In the past few days, many big investors (whales) have bought XRP tokens. Is this a sign that the XRP price will soon be bullish in the upcoming week? Here is the analysis.
XRP tokens seem to be selling well among whales in the last few days. Many whales are buying up large amounts of XRP coins. Because of this activity, many predictions that XRP price could experience an increase in the following week.
Is that true? Read this article until the end. We will explain in detail the current condition of the XRP price and the movements of large investors in the XRP ecosystem.
Emergence of the New Whale XRP
In the data written in on-chain data, it is stated that there were large-scale transactions of XRP tokens. A total of 104 million XRP tokens with a value of more than $55 million were moved.
Unfortunately, the whale’s identity has not been traced so the Whale Alert blockchain tracking tool only shows the amount of XRP tokens moved. This activity automatically creates a new whale for the XRP token.
XRP Price Chart Today
Today’s XRP price increased by +1.21% so it is currently trading at $0.5398. In the last 24 hours, XRP was at its highest price level, namely $0.5418.
The indicators in the XRP price chart above show positive signs, starting from RSI, and MACD, to Balance of Power or BoP.
The current RSI value of XRP is 56.95, which means the buying trend is more dominant than the selling trend. This is similar to the data in the BoP figures where it is currently at positive 0.37 so the market is dominated by a buying trend with conditions that could be bullish in the near future.
The MACD line also shows a bullish possibility because it rises from the existing boundary line.
Could XRP Get Bullish in the Near Future?
If you look at the technical analysis above, XRP has a positive bullish possibility in the near future. Moreover, the prediction of #Uptober will also be coming soon in mid-October so the price of XRP can also experience an optimistic increase, like other crypto tokens.
However, the fluctuating nature of crypto prices can also make the XRP graph conditions go the other way. You can check the XRP price in real-time on the Bitrue website to find out the condition of this token according to your needs.
Conclusion
That is an explanation of XRP price analysis by looking at how whales have moved in the last few days. Many whales are buying up XRP tokens in large quantities, which means that the XRP ecosystem is increasingly being discussed with many investors HODLing this token.
For those of you who are also interested in buy XRP tokens, don’t just buy without doing research. Please do your own research (DYOR) so that you can carry out the right analysis according to your personal investment needs.
Doing research is very easy when you use the features provided by Bitrue. Real-time price checking feature from XRP to USD You can do it easily without changing websites. Also, find out about the various projects being carried out in the XRP ecosystem by reading articles on the Bitrue blog.
About Bitrue
Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.
This Press Release has also been published on VRITIMES
