Whale transfer and rising exchange reserves have sparked speculation about XRP’s next major move in the crypto market. A massive transfer of 66.9 million XRP, valued at over $143 million, between unknown wallets has fueled excitement around the token. The significant whale activity, combined with XRP holding above the $2.00 psychological support, has led to a 3.97% gain in the past 24 hours, with the token currently trading at $2.12. The focus is now on whether this bullish setup can drive a rally towards the $2.60 resistance level.
Rising exchange reserves for XRP, which have reached $6.066 billion, have raised concerns among traders about potential selling pressure as more tokens become available for trading. Despite the increase in exchange reserves, not all inflows lead to immediate dumps, as some transfers may be strategic in preparation for upcoming liquidity events or major accumulation zones. The technical chart for XRP indicates a bullish shift in momentum, with the token bouncing strongly from the $2.00 support level for the third time since early March. A breakout above the $2.61 resistance level could lead to a move towards the $3.39 region, attracting fresh momentum traders into the market.
On-chain activity for XRP is showing positive signs of renewed network participation, with active addresses growing by 0.92% and transaction counts rising by 0.96% in the past 24 hours. These increases reflect rising user engagement, which often precedes or accompanies price rallies. The liquidation heatmap for XRP on Binance shows dense clusters between $2.15 and $2.25, which could act as short-term hurdles but also provide fuel for a potential breakout. If price breaches these levels, short liquidations may trigger a push towards $2.60 and possibly higher, potentially leading to a high-volatility rally.
XRP seems poised for a breakout towards the $2.60 level, supported by strong whale movement, a bullish technical structure, growing on-chain activity, and layered liquidation levels. As long as XRP maintains its momentum above $2.00, traders should prepare for a potentially explosive upside move in the near future. The combination of these factors suggests that XRP may be on the verge of a significant price rally, with the potential to reach higher price levels in the coming days. In conclusion, XRP’s current setup indicates bullish momentum and potential for further price appreciation in the crypto market.
