XRP has experienced moderate volatility over the past 48 hours, fluctuating between a high of $2.50 and a low of $2.39. XRP is actively trading around $2.47, reflecting a 2.49% increase from the previous close. Despite these gains, the cryptocurrency remains approximately 26.5% below its all-time high of $3.40, recorded during the 2017–2018 crypto boom.
Recent Price Action
XRP’s recent movements align with broader market trends. Bitcoin (BTC) surged 3% to $86,816, while Ethereum (ETH) saw a 3.3% increase. This positive sentiment has spilled over into XRP, allowing it to maintain stability despite ongoing market uncertainty. Interestingly, whales have accumulated over $400 million worth of XRP in the last 48 hours, but the price has yet to see a substantial breakout. This suggests a consolidation phase, where traders are waiting for the next major catalyst.
Key Support and Resistance Levels
- Support: $2.39 remains a crucial support level, preventing further downside moves.
- Resistance: $2.50 continues to act as a strong resistance barrier. A breakout above this could trigger further gains.
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XRP Price Forecast for the Next 12 Hours
- Bullish Scenario: If buying pressure intensifies, XRP could push past $2.50. A confirmed breakout above this resistance might propel the price toward $2.55–$2.60. Increased whale accumulation could support this upward movement.
- Bearish Scenario: If sellers take control, XRP could retrace toward the $2.42–$2.39 range. A break below $2.39 would indicate further downside risk.
- Sideways Consolidation: Given current market sentiment, XRP may continue fluctuating between $2.42 and $2.50 until a stronger breakout occurs.
With whales accumulating large amounts of XRP and overall crypto market sentiment improving, a bullish move is possible. However, traders should closely watch trading volume and resistance levels. The next 12 hours will be crucial in determining XRP’s short-term trajectory.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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