XRP Price Prediction as XRP Becomes 6th Most-Traded Crypto in the World – Are Whales Accumulating?
The XRP price has risen by 1% in the past hour, with the altcoin beginning to recover after suffering a 3% loss in the past 24 hours.
At $0.683798, XRP is up by 18% in the past week and by 31% in the last 30 days, with momentum remaining very much on its side.
The coin has also gained by 100% since the beginning of the 2023, a year defined by a series of victories for Ripple in its long-running legal battle with the SEC.
And with the wider market set for an end-of-year rally, XRP could easily rise further in the very near future.
XRP’s RSI (purple) has dipped slightly but is still above 70, a level that signals greater momentum and buying pressure compared to its previous performance.
More bullishly, XRP’s 30-day average (yellow) is climbing further above its 200-day average (blue), and it likely won’t be until the its well above the longer term average that the coin’s current rally will peter out.
Another bullish sign comes in the form of the coin’s support level (green), which has been rising strongly in the past week or so and which suggests that XRP has consolidated at higher levels.
The technical prognosis therefore looks very good, with XRP’s elevated trading volume – at nearly $3 billion – would suggest sustained interest in the token.
Having said that, the latest transfer data reveals that some whales have been sending XRP to exchanges.
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