XRP Price Prediction as $1.2 Billion Trading Volume Comes In – Are Whales Buying?

cryptonews.com:

The XRP price has dropped by 2.5% in the past 24 hours, falling to $0.719308 as the cryptocurrency market as a whole barely moves.

XRP is now down by 4% in the past week, having lost momentum following the rally it enjoyed in the wake of the Ripple-SEC ruling.

Nonetheless, the altcoin remains up by 53% in the last 14 days and by just over 110% since the beginning of the year, based largely on increasingly positive expectations surrounding its future and that of Ripple.

And with its trading volume remaining elevated at over $1.2 billion, XRP could easily see further gains in the next few days or weeks.

XRP's chart suggest that the altcoin may be close to hitting a bottom of its mini-dip, with its relative strength index (purple) just about to fall below 30, something which would signal that the coin is being oversold.

XRP's 30-day moving average (yellow) is also sliding downwards at the moment, although it's possible that the cryptocurrency may recover before the shorter term average falls below the 200-day average (blue), given the lingering momentum involved.

Perhaps the most important indicator to watch out for at the moment is XRP's support level (green), which has been pushed down in the past few days by a number of dips.

If it's breached again, with XRP's price falling decisively below $0.715 or $0.71, then the altcoin could be due for a few more losses before it rights itself again.

This negativity aside, XRP is likely to resume its rallying in the medium-term (and long-term), with the coin still benefitting from considerable momentum as a result of Ripple seeing a mostly positive result in its case with the SEC.

Available data seems to suggest that, while some may have sold recently, whales are generally still buying