Whales Dive In: 60M XRP Bought, 20% Rally Looms?

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So, in the last 24 hours, some big fish decided to go on a XRP shopping spree and bought over 60 million tokens. 🐳✨ This move is like when you buy the last pack of toilet paper at the store and everyone else is like, “Wait, what’s happening?!”

Now, the XRP price has taken a little dip, falling by 3.40% from its high of $2.76 to $2.63. So, even though the whales bought a ton, it’s like they’re swimming against the current and haven’t made a big splash yet. 🌊

But hey, the trading volume has jumped by 32% to $4.5 billion, which is like a party starting to get lively. Most of the action is happening on Binance, so it’s like the crypto dance floor is heating up. 💃🕺

So, even though the price isn’t doing much, this market activity might be the pre-party before the main event. The chart is showing some interesting patterns. On the 4-hour chart, we’ve got a bullish cup and handle forming, which is like a crypto teacup ride that’s about to take off. 🎡

Also, the RSI is getting close to oversold territory, with the moving average line at 28.56, which is below the lower band of 30. This means the bulls might be gearing up to charge. 🐂

If XRP breaks above $2.80 and holds steady, it could surge by 20% and hit $3.40. That’s like going from a coffee to a latte to a triple espresso in a matter of days. ☕️🔥

Meanwhile, data from Coinglass shows that both short-term and long-term traders are leaning towards buying XRP. It’s like a vote of confidence, with long-term traders holding $28 million worth of long positions at $2.62. They’re basically saying, “We believe in you, XRP!” 💪

On the other hand, short positions at $2.73 have reached $12.66 million, which means some traders are still betting against XRP. It’s like the crypto version of a high school debate, where one side says, “XRP is the future!” and the other side says, “Nah, it’s just a fad.” 🤷‍♀️

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2025-02-17 20:37