Ripple Is in High Demand as Whales Continue to Accumulate

Azeez Mustapha


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XRP has been rallying fairly well even as Ripple deals with difficulties brought on by the most complicated case in the history of cryptocurrency. Compared to most other altcoins, the price of XRP has increased tremendously over the past few weeks. According to CoinMarketCap, the price of ripple has risen to $0.46, which is almost a 20% gain from where it was seven days ago.

The tremendous rally can be attributed to the recent movement of a huge amount of XRP tokens between different wallets. According to the data released by Santiment, there has been an increase in the number of transfers of over a million dollars worth of XRP this past week. Moreover, more whales are beginning to accumulate XRP as the number of addresses with over $10 million worth of XRP keeps increasing.

Key XRP Levels To Watch – March 27

ripple Is in High Demand as Whales Continue to Accumulate

XRPUSD has been bullish since the break of market structure (BMS) and the change of character to the upside. The break in market structure occurred as prices crashed to make the local low at the $0.3000 price level. As of now, the market’s trading range is between the $0.3540 and the $0.4940 price levels.

The reaction of the price at the equilibrium level shows that the bulls are still very interested in driving the price further to the upside. However, a retracement might sink the price deeper into the discount zone as it leaves the overbought region, according to the RSI indicator.

XRP Key Levels

Resistance Levels: $0.5600, $0.4940, $0.0.4330
Support Levels: $0.3000, $0.2400, $0.2000

Total Market Capitalization: $1.13T
XRP Market Capitalization: $23.53B
XRP Volume: $2.32B
Market Rank: #6

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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