๐ Whale Adds 111 Million XRP
On November 20, 2024, Whale Alert reported a transfer of 110.93 million XRP tokens worth $123.59M from Binance. The wallet holder remains unidentified. This large transaction occurred during a price dip, and since then, XRP has risen 7.8%, hinting at a potential bullish trend.
๐ XRP Price Performance
Currently trading near $1.13, XRP has gained 3.5% in the past 24 hours. However, trading volume dropped by 6.5%, reflecting reduced participation amid price fluctuations. This suggests cautious optimism among traders as the market awaits a breakout.
๐ Technical Analysis
XRP has formed a bullish pennant pattern on the 4-hour chart, indicating a potential breakout. If XRP closes above $1.15, it could rally 64% to reach $1.90. Resistance at $1.40, marking a 20% gain, may act as a barrier. Technical indicators like the 200 EMA and RSI support a bullish outlook.
๐ On-Chain Metrics
Coinglass data shows a 5.2% rise in XRPโs open interest in the last 24 hours, reflecting increased investor interest. This steady climb aligns with the bullish technical setup, further reinforcing the likelihood of a breakout in the coming days.
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