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XRP Shows Signs of Possible Rally To $3 Following Whale Action

21.12.2024
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XRP is under the spotlight after significant whale transactions, including a transfer of 30 million XRP (worth $69M) from UPbit to an unknown wallet. Highlighted in a tweet by Brett (@Brett_Crypto_X), these movements reflect growing confidence among major investors.

🚨: Massive #XRP Transaction: 30,000,000 XRP Transferred from UPbit to Unknown Wallet Whale activity rising again 🤯 pic.twitter.com/JaFErhkCK1

— Brett (@Brett_Crypto_X) December 21, 2024

Another major transfer of 99,999,977 XRP ($222M) between two wallets further underscores strategic repositioning by key holders.

Analysts predict these actions could precede a breakout, positioning XRP for a potential rally to $3.

Ripple’s Legal Battles Stir Market Anticipation

Ripple’s high-stakes legal proceedings, including pivotal appeal briefings involving CEO Brad Garlinghouse, continue to draw significant attention to XRP.

Market analysts believe a favorable outcome could serve as a game-changer, acting as a major catalyst to elevate market sentiment and push XRP beyond key psychological thresholds. This legal optimism is further bolstered by an uptick in whale activity, reflecting long-term confidence among major holders.

XRP’s price has been consolidating between $2.00 and $2.90, a range that analysts describe as a “pressure zone” for a potential breakout.

The convergence of whale accumulation and Ripple’s legal momentum has positioned XRP at the crossroads of institutional and retail interest, with higher resistance levels now in its sights.

XRP Technical Outlook – December 21, 2024

XRP is currently trading at $2.30, marking a 16% increase in the past 24 hours. This surge is supported by robust market activity, as reflected in the $21.36 billion 24-hour trading volume.

However, XRP faces a significant resistance zone at $2.38, where a downward trendline intersects with prior support, now acting as a supply zone.

🚨 XRP Technical Outlook – Dec 21, 2024 🚨
XRP surges 16% to $2.30 with $21.36B volume, but resistance at $2.38 looms. RSI at 58 signals neutral momentum. Breakout targets $2.45+.
Will it rally or retest $2.22 support? 📊 #XRP #CryptoUpdate pic.twitter.com/VpzyCiE5cE

— Arslan Ali (@forex_arslan) December 21, 2024

Key technical indicators suggest mixed signals. The 50-day Exponential Moving Average (EMA), positioned just below the current price, reinforces tentative recovery momentum, but the emergence of a Doji candle and a bearish engulfing pattern signal 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, targeting $2.45 and beyond. However, failure to breach this resistance could result in a retest of lower support levels, such as $2.22.

$STARS Presale Raises Over $25M – Trading Starts Soon!

The Crypto All-Stars ($STARS) presale has officially concluded, surpassing an impressive $25,000,000 in total raised funds. Investors showed overwhelming support for the project, cementing $STARS as one of the most anticipated launches of 2024. Trading is set to begin at 2 PM UTC on Monday, December 23, 2024.

Why $STARS Is Poised for Success:

Crypto All-Stars’ innovative MemeVault platform has attracted significant attention, offering up to 138% APY on popular meme coins like $DOGE, $SHIB, and $PEPE. This unique staking opportunity, coupled with strong presale momentum, has positioned $STARS as a standout project in the crypto 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, signaling potential 11x returns

Secure your $STARS tokens before the presale ends and position yourself ahead of the official launch.

The post XRP Shows Signs of Possible Rally To $3 Following Whale Action appeared first on Cryptonews.

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Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

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