XRP Shows Signs of Possible Rally To $3 Following Whale Action
XRP is currently in the spotlight due to significant transactions involving whales, such as a transfer of 30 million XRP (worth $69M) from UPbit to an unknown wallet. These movements, highlighted in a tweet by Brett (@Brett_Crypto_X), indicate increasing confidence among major investors.
Another significant transfer of 99,999,977 XRP ($222M) between two wallets further emphasizes strategic repositioning by key holders. Analysts predict that these actions could precede a breakout, potentially leading to a rally in XRP’s price to $3.
Ripple’s ongoing legal battles, including important appeal briefings involving CEO Brad Garlinghouse, continue to attract significant attention to XRP. Market analysts believe that a favorable outcome could be a game-changer, acting as a major catalyst to boost market sentiment and drive XRP’s price beyond key psychological levels. The optimism surrounding the legal proceedings is further supported by increased whale activity, indicating long-term confidence among major holders.
Currently, XRP’s price has been consolidating between $2.00 and $2.90, which analysts describe as a “pressure zone” that could potentially lead to a breakout. The combination of whale accumulation and Ripple’s legal momentum has positioned XRP at a point where institutional and retail interest intersect, with higher resistance levels now within reach.
XRP Technical Outlook – December 21, 2024
As of now, XRP is trading at $2.30, representing a 16% increase in the past 24 hours. This surge is supported by robust market activity, as evidenced by the $21.36 billion 24-hour trading volume.
However, XRP faces significant resistance at $2.38, where a downward trendline intersects with previous support that now acts as a supply zone.
Key technical indicators are giving mixed signals. The 50-day Exponential Moving Average (EMA), positioned just below the current price, reinforces a tentative recovery momentum. However, the emergence of a Doji candle and a bearish engulfing pattern suggest potential selling pressure near $2.38.
The Relative Strength Index (RSI) stands at 58, indicating neutral momentum with a slight bullish inclination.
A decisive breakout above $2.38 could trigger bullish momentum, with target levels set at $2.45 and beyond. However, failure to breach this resistance could lead to a retest of lower support levels, such as $2.22.
$STARS Presale Raises Over $25M – Trading Starts Soon!
The presale for Crypto All-Stars ($STARS) has officially concluded, with a total raised fund exceeding an impressive $25,000,000. Investors have shown overwhelming support for the project, solidifying $STARS as one of the most highly anticipated launches of 2024. Trading is scheduled to begin at 2 PM UTC on Monday, December 23, 2024.
Reasons Why $STARS Is Poised for Success:
Crypto All-Stars’ innovative MemeVault platform has garnered significant attention by offering up to 138% APY on popular meme coins such as $DOGE, $SHIB, and $PEPE. This unique staking opportunity, combined with strong presale momentum, has positioned $STARS as a standout project in the cryptocurrency space.
Key Details Post-Presale:
Total Raised: Over $25,000,000
Staking Rewards: Up to 138% APY for $DOGE, $SHIB, and $PEPE
Launch Date: Monday, December 23, 2024, at 2 PM UTC
Audit Certification: Verified by SolidProof, ensuring top-tier security
Analyst Prediction: $0.02 in 2024, suggesting potential returns of 11x
Secure your $STARS tokens before the presale ends and position yourself ahead of the official launch.
Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. There is a possibility of losing all of your capital.