XRP Whales Accumulate Massive Tokens
The whales continue to accumulate despite the downturn that is still in progress and the legal action brought by the US Securities and Exchange Commission against Ripples. In fact, among the top 100 BSC whales, XRP is now the token that is traded the most, according to Whalestats. The amount of activity on the XRP network has been steadily rising.
Bulk transfers of large amounts of XRP are being made from one address to another. The primary factor behind Whale’s sudden surge in interest in XRP is his expectation that XRP will win the U.S. SEC and Ripple’s legal battle. At this rate, the overall trend for XRP could abruptly change.
Key XRP Levels To Watch – January 27
Resistance Levels: $0.5590, $0.5100, $0.4190
Support Levels: $0.3000, $0.2350, $0.1690
https://www.tradingview.com/x/oaaEoURO
XRPUSD is heading towards the overbought region, as indicated by the Relative Strength Index (RSI). A mitigation block exists at the 79.0% Fibonacci retracement level. The price might surge into the mitigation zone at the 79.0% Fibonacci retracement level before resuming the market’s downward trend.
The current upward movement began after a bounce off the 0.3000 demand zone. However, there seems to be more than enough resistance to prevent the price from expanding further beyond the intermediate-term high.
Total Market Capitalization: $1.06T
XRP Market Capitalization: $20.91B
XRP Volume: $0.81B
Market Rank: #6
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