Ripple News: XRP Holds Steady Above $0.51 Amid Whale Accumulation
XRP has managed to stay above the $0.51 mark and is expected to see further gains as whales continue to accumulate Ripple tokens, according to FXStreet German site. Large investors holding between 1 million and 10 million XRP have added a significant amount of tokens in May, signaling bullish sentiment for the cryptocurrency.
Whales Bullish on XRP - Is a $1 Rally Imminent?
The recent decline in US inflation has given markets a boost, with Bitcoin rising over 6% and the broader market up around 5%, reports FinanzNachrichten.de. Despite this positive momentum, XRP's price increase of just 3.5% lags behind other altcoins. However, large holders (whales) have accumulated over $55 million worth of XRP in the past two weeks.
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Whales Betting on XRP: Is a $1 Rally Ahead?
Blockchain-Hero highlights that despite moderate gains compared to other cryptocurrencies, whales have invested heavily in accumulating more than $55 million worth of XRP recently. This accumulation suggests they are optimistic about an upcoming rally.
$55 Million Invested by Whales – A Potential Rally Ahead?
Larger investors seem confident as they invest significantly into Ripple’s native token amidst ongoing legal battles with SEC, notes Coin Kurier. The support level at approximately $0.50 remains crucial; if breached sustainably it could lead many whales towards exiting their positions.
Is Ripple Facing Bearish Rejection Now?
BeInCrypto | Bitcoin & Krypto News warns that while Ripple holds its ground above key Fibonacci levels near $0.48, potential bearish rejection looms ahead. If resistance breaks below these critical points, then the next major supports lie closer downwards toward ranges like $0.43 or even lower, potentially impacting overall investor sentiments negatively.
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