XRP has captured attention following significant whale transactions. One notable transfer involved 30 million XRP, valued at $69 million, moved from the UPbit exchange to an unidentified wallet. Brett (@Brett_Crypto_X) highlighted this activity in a tweet, emphasizing the growing involvement of major investors in XRP.
🚨 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 substantial transaction included the movement of 99,999,977 XRP, worth $222 million, between two wallets. These large transfers suggest strategic repositioning by prominent holders, with analysts speculating on a potential rally that could push XRP to $3.
Ripple’s Legal Battles Add Market Anticipation
Ripple’s ongoing legal challenges, involving pivotal appeals and CEO Brad Garlinghouse, have intensified market focus on XRP. Experts believe a favorable resolution could significantly boost market sentiment, potentially driving XRP past critical psychological barriers.
This optimism is reinforced by increasing whale activity, reflecting strong confidence among major investors.
Currently, XRP’s price is consolidating between $2.00 and $2.90. Analysts describe this range as a “pressure zone,” indicating a potential breakout may be imminent.
Technical Analysis for XRP – December 21, 2024
XRP is trading at $2.30, marking a 16% surge within the past 24 hours. This rise is supported by a robust 24-hour trading volume of $21.36 billion. However, XRP faces a significant resistance zone at $2.38, where a downward trendline meets prior support, now acting as a supply barrier.
🚨 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 below the current price, supports a tentative recovery. However, the appearance of a Doji candle and a bearish engulfing pattern indicates potential selling pressure near $2.38.
The Relative Strength Index (RSI) stands at 58, indicating neutral momentum with a slight bullish trend. A decisive breakout above $2.38 could push prices toward $2.45 or higher. Conversely, failure to break through this level might result in a retest of lower support levels around $2.22.
$STARS Presale Closes After Raising $25M
The Crypto All-Stars ($STARS) presale has concluded, surpassing $25 million in total funds raised. Investors have shown strong support, making $STARS one of the most anticipated crypto launches of 2024. Trading is set to commence at 2 PM UTC on Monday, December 23, 2024.
Key Highlights of $STARS Launch:
- Funds 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
- Security: Verified by SolidProof audit certification
- Analyst Prediction: Potential price of $0.02 in 2024, signaling an 11x return
The $STARS presale has garnered attention for its innovative MemeVault platform, offering high-yield staking rewards on popular meme coins. Secure your $STARS tokens ahead of the official launch to capitalize on this opportunity.
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