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

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.

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.

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.