Ripple Technical Analysis: XRP/USD whales are significantly increasing after cracking $0.25


  • There are 29 new XRP whales holding at least 1 million coins.
  • XRP/USD had a breakout above $0.25 but trading volume is decreasing. 

XRP is currently trading at $0.251 in a daily uptrend and will most likely form a bull flag in the short-term. According to statistics from Santiment, the number of XRP whales has increased over the past month. On July 7, around 814 whales held at least 1 million XRP coins up to 10 million. That number is now at 843, meaning that 29 more whales entered the game holding at least 29 million more XRP coins.

XRP/USD daily chart

XRPUSD

XRP is not facing many resistance levels but it has a long way to go until the 2020-high at $0.35. The next most important level to beat is located at $0.28 followed by $0.30 psychological level and $0.309. 

Bulls ave not established many support levels on the way up so consolidation would be ideal for XRP in the short-term.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

BTC/USD bulls aim for $11,600, but strong resistance restricts movement

BTC/USD has gone up from $11,568.60 to $11,596 as bulls continue to flirt around the $11,600 line. As per the daily confluence detector, there are twBTC/USD has gone up from $11,568.60 to $11,596 as bulls ...

More Bitcoin News

Ripple Technical Analysis: Bullish recovery starts after two bearish days

XRP/USD bulls stage a comeback following two bearish days, taking the price up from $0.2822 to $0.2850. The buyers aim for the $0.29 resistance level as the price keeps trending in a downward ...

More Ripple News

ETH/USD to $1,000 by the end of 2020 – Derivative traders bet on Deribit

Ethereum is trading marginally below the coveted $400 level. This comes after an impressive recovery from support confirmed at $370 on Wednesday. On the upside, Ether recently traded new yearly highs at $415.

More Ethereum News

IOT/USD aims for $0.40 as Chrysalis update gears up to go live next week

IOTA is all set to launch the first phase of its Chrysalis project, the beginning of a series of upgrades leading up to IOTA 1.5. The new upgrade includes several improvements to the network.

More IOTA News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast

BTC

ETH

XRP