XRP supply density highlights key levels
XRP traders eyeing this key level after whales accumulate 1.7 billion tokens.
- Key support. $2.81 level with over 1.7 billion XRP accumulated.
The $2.81 level currently serves as the key support for the XRP token, according to Glassnode data. Roughly 1.7 billion tokens have been accumulated at that level. Why supply density matters The analysis is based on the XRP cost basis distribution heatmap from Glassnode, which shows at which specific level holders accumulated their tokens.
- Why it matters. High supply density means stronger support/resistance zones.
Glassnode claims that this visualization provides a clearer view of the correlation between specific price levels and accumulated supply density. Such data can be useful for identifying potential support and resistance levels.
The heatmap shows that another major supply cluster is located at the $3.26 level. More than 1.05 billion tokens had been accumulated at the above-mentioned level. For comparison, a mere 2.9 million tokens have been accumulated in the $3.57-$3.58 range, Glassnode data shows.
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Peter Brandt issues $500K Bitcoin forecast
Peter Brandt sees Bitcoin eventually reaching $500,000.
- Short-term risk. Brandt sees BTC possibly plunging to $60,000 by Nov 2026 before any moonshot rally.
Peter Brandt, one of the most famous cryptocurrency traders, has predicted that the price of Bitcoin (BTC) could potentially soar to the pie-in-the-sky $500,000 level. However, before this happens, Bitcoin might plunge to as low as $60,000, Brandt predicts by November 2026.
- Cycle peak chance. He assigns a 30% probability that Bitcoin already topped this cycle at $124,517.
Brandt believes that there is roughly a 30% chance that Bitcoin has already reached the peak of the current cycle. “Dear readers, I am a Bayesian and must always consider binary narratives even if they oppose my personal viewpoints and hodlings. This is how I have survived five decades of commodity trading,” Brandt explained.
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Shiba Inu heavy whale moves but technical headwinds
Shiba Inu’s comeback potential is still there as on-chain volumes stay in adequate range.
- Massive transfer spike. SHIB saw 10 trillion tokens moved in a single day — a major jump in network activity.
In a single day, Shiba Inu recorded an incredible on-chain transfer volume of over 10 trillion tokens, showing that network activity has picked up speed following weeks of inactivity. Alongside this increase in transfer volume, Etherscan data indicates that the number of transactions remained stable at about 5,400, indicating that whale-sized movements rather than retail flows were the main driver.
- Price action. Trading near $0.00001300, SHIB is consolidating inside a converging triangle pattern.
SHIB is currently trading close to the $0.00001300 level as it attempts to level off following its recent erratic performance. As it presses against several technical resistances that have limited upside momentum, the asset is trapped inside a convergent triangle structure.
The 26 EMA, which SHIB has had difficulty holding above in recent weeks, is the first source of resistance. The 50 EMA, which is located just above the market, serves as a recurrent rejection zone. The technical pressure is further increased above that by the addition of a ceiling by the 100 EMA. The descending trendline, a structural resistance that has continuously pushed the price lower, is the fourth barrier.
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Source: https://u.today/peter-brandt-predicts-500k-bitcoin-17-billion-xrp-accumulated-at-make-or-break-level-10-trillion
