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James

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The <a href="https://u.today/massive-563571-xrp-token-shift-by-whale-sparks-speculation-details" rel="noopener noreferrer nofollow">XRP</a> price might be approaching an inflection point, as its daily chart suggests. 
The XRP price has seen profit-taking since attaining highs of $0.854 on July 19. This saw the XRP price decline to a demand region, especially around $0.67, where it saw a rebound on July 25. Notably, the XRP price initiated a rise from near this region on July 14. 
<img alt="TradingView" data-entity-type="file" data-entity-uuid="2f1504e5-94a0-4474-a066-48a6f658b592" src="https://u.today/sites/default/files/inline-images/26072023%200000.png">XRP/USD Daily Chart, Courtesy: <a href="https://www.tradingview.com/x/MRTo0DOn/" rel="noopener noreferrer nofollow">TradingView</a> 
At the time of writing, XRP was up 1.87% in the last 24 hours to $0.6987, per <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">CoinMarketCap</a> data. While where XRP heads next remains an open question, indications seem to be pointing upward, buoyed by positive fundamentals. 
Santiment, an on-chain analytics firm, pointed out at the start of the week that XRP had the most 100 million XRP whale wallets in over 11 weeks as its price surpassed $0.70. 
According to Santiment, the number of XRP whale wallets holding over 100 million coins, or at least $74 million, has grown to 199, marking the highest number since May 13. Notably, XRP has been a top trending subject this month, with a moderate price correlation with changes in social dominance. 
On the <a href="https://u.today/xrp-fate-on-secondary-markets-foreseen-by-legal-experts-in-wake-of-this-details11" rel="noopener noreferrer nofollow">positive side</a> as well, CoinShares' head of research James Butterfill reported on July 24 that XRP investment products witnessed a combined inflow of $9.2 million over the past week. This is significant as BTC investment products witnessed $13 million in outflows, reversing five weeks of inflows. 
<h2 id="here-are-possible-scenarios">Here are possible scenarios</h2> 
A plausible scenario would be for XRP to maintain its recovery and retest the $0.85 level. With a decisive close over $0.85, XRP might retest the $1 barrier level and gain roughly 30% from current levels. 
<a href="https://u.today/massive-563571-xrp-token-shift-by-whale-sparks-speculation-details" rel="noopener noreferrer nofollow">card</a> 
Another possibility is range trading, with XRP forming a range in the near term. The range's boundaries may be $0.66 on the downside and $0.86 on the upside. The first indicator of strength in this situation will be a break and close over the overhead barrier of $0.85. 
XRP, on the other hand, may fall further if the $0.66 support level is breached. This might lead to more selling, and XRP could approach the MA 50 support at $0.56.

XRP Price Nears Crucial Turning Point, Here Are Possible Scenarios

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