bullish

Bitcoin

Verge

<ul>
 <li>XRP surged 9% amidst the overall crypto market decline.</li>
 <li>Significant whale activity raises questions about future XRP moves.</li>
</ul>
The cryptocurrency market is currently experiencing mixed movements, with some coins reaching new highs while others face significant declines. The global market cap has decreased by 0.51% in the past 24 hours, accompanied by an 18% drop in overall trading volume. <a href="https://thenewscrypto.com/bitcoin-price-shows-mixed-signals-amid-us-authorities-btc-moves/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>, the leading cryptocurrency, has seen a 0.78% decline, while it has surged by 9%, continuing its upward trend with a 180% increase over the same period- hitting a four-month high of $0.6579.
This surge in XRP coincides with substantial whale activity in the past 24 hours. A transfer of 38,000,000 XRP (worth $24 million) from Upbit to an unknown wallet and 23,500,000 XRP ($14,679,736) from an unknown wallet to Bitstamp was recorded. Additionally, 70 million XRP tokens, valued at $42.48 million, were moved from <a href="https://thenewscrypto.com/binance-research-releases-half-year-report-highlighting-crypto-markets-trajectory/" target="_blank" rel="noopener noreferrer nofollow">Binance</a> yesterday, raising questions among traders about the whales’ intentions.
Moreover, Santiment reported a significant increase in wallets holding at least 10,000 XRP over the past five weeks, reaching 279,400 shark and whale addresses—a six-month high. Throughout 2024, the correlation between these wallets and it’s market value has been undeniable.
Meanwhile, Prominent crypto analyst Ali <a href="https://x.com/ali_charts/status/1818339028808167777" target="_blank" rel="noopener noreferrer nofollow">noted</a> that XRP has been consolidating within a symmetrical triangle for six years. A bullish breakout could occur if it surpasses $0.90. Other predictions suggest that if its daily candle closes strongly above the $0.618 level, it could reach $0.73 and $0.85 in the coming days.
<h3 class="wp-block-heading" id="h-xrp-to-hit-more-new-heights">XRP to Hit More New Heights?</h3>
XRP’s recent price action reflects a strong bullish trend, with recent highs breaching the $0.6498 resistance level and the potential to test $0.6841 soon. However, the daily Relative Strength Index (<a href="https://www.tradingview.com/chart/EJXIwxE9/?symbol=BINANCE%3AXRPUSDT" target="_blank" rel="noopener noreferrer nofollow">RSI</a>) indicates potential buying pressure.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcQOzgnqXySOQ8mIPbmRkGFXStV8EBh06YnAHfwdCUsmnMELspNOH8cKWR9mRYplKkPr96m3vM1UsB_8YzT59E-IXKwsTzTcXEmBHxVdbfKDjpyN5ROz6w3mEMOPdSu1cVJWqvsUdirY1RFJjc0ivupjzM0?key=mpArhTcVmaNm6Jcu63MFpw" alt="">
 <figcaption class="wp-element-caption">
 XRP Price Chart, Source: Sanbase
 </figcaption>
 </figure>
</div>
Should bears regain control, it could retrace to $0.5825 initially, potentially falling further to $0.5693 in a more pronounced decline.
Highlighted News Of The Day
<a href="https://thenewscrypto.com/will-bitcoin-btc-rebound-shortly-defying-market-fluctuations/" rel="noopener noreferrer nofollow">Will Bitcoin (BTC) Rebound Shortly Defying Market Fluctuations?</a>

Is XRP on the Verge of a Major Breakout?

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