- XRP price has surged and is now trading around $2.12, supported by a sharp 45.18% jump in daily trading volume.
- A 4.8 million XRP withdrawal from Upbit suggests whale accumulation and a long-term holding strategy.
XRP saw a steady price increase from the $2 level to an intraday high at $2.16 before settling around $2.12. Then, XRP sees a 45.18% spike in daily trading volume and stands at $3.49 billion, pushing the altcoin firmly into the market spotlight.
Adding to this, market analyst Xaif Crypto says that a whale transaction of 4.8 million XRP was withdrawn from Upbit, one of South Korea’s largest exchanges by volume, signaling strong accumulation, reduced sell pressure, and showcasing the power of the XRP Ledger with an ultra-low 0.01 XRP transaction fee. All these factors continue to support XRP’s bullish trajectory.
Bullish Momentum Builds
The 4h chart of XRP shows a short-term bullish momentum, with price breaking over the $2.10-$2.12 zone and currently trading at $2.12, as this breakout shows that XRP’s market sentiment is improving after a long consolidation phase.
The technical indicator, Relative Strength Index (RSI), has risen to nearly 75, indicating strong buying pressure but also a potential short-term price fall. While the MACD line continues to cross above the signal line, indicating a strong bullish trend. This suggests that an upward trend is still building, despite near-term overbought conditions.
Key Price Levels in Focus
On the upside, immediate resistance is found near $2.20, followed by $2.30, where previous selling pressure formed. A persistent move above this range might improve the bullish structure and open avenues to $2.50 in the short term.
On the downside, first support is now indicated at the old resistance level of $2.10, which may serve as a critical level for trend continuation. A deeper decline may revisit the $2.00 support level, but a break below this level might expose XRP to further fall to the $1.85 – $1.90 zone.
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Source: https://thenewscrypto.com/xrp-price-surges-as-volume-soars-and-whale-accumulation-strengthens-bullish-outlook/
