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
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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.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
