Explosive Breakout Ahead? XRP Bulls Rally Toward $2 Mark

Christian Encila

Last Updated: November 29, 2024 10:00 pm

3 mins read

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Recently, XRP has been on a robust positive run; some predict that the altcoin will hit $2 in the following weeks. This hope coincides with increasing whale activity, as technical signs suggest that the price might cross significant barrier levels. Starting in early November, XRP’s explosion has inspired experts and investors.

Whales Fuel Price Movement

Whale purchase activity is one of the main causes of XRP’s recent rise. Widely seen as a positive sign, large altcoin holders have been accumulating millions of XRP tokens.

$XRP to $2 isn’t even a question. $8-20 is inevitable

1. Bullish patterns = long-term setup
2. Whales accumulating hard
3. MACD cooling off + RSI neutral
4. $1.60, then no resistance to $2
5. FOMO incoming, Sentiment flipping

Miss this #XRPHOLDERS, and you’ll chase it later. pic.twitter.com/HCvoyiwWX9

— Armando Pantoja (@_TallGuyTycoon) November 27, 2024

These whales bought over 250 million XRP during a recent market downturn, which caused a 200% price increase this month. Notable transactions, like a 150 million XRP trade valued at $227 million, have drawn attention from market watchers.

Technical Indicators Point To Continued Growth

Technical study also indicates XRP’s bright future. Expert in cryptocurrencies, CrediBull, informs us that XRP is currently experiencing a “five-wave impulse climb,” typical of long-term increasing trajectory.

He predicts that if the price remains over $1.05, XRP may break out above $2 in the next weeks. On the other hand, if the price falls below this critical support level, it may indicate a correction before the next upward impulse.

XRP market cap currently at $92.3 billion. Chart: TradingView.com

Another expert, Egrag Crypto, is keeping a careful eye on XRP’s market rise, which is approaching crucial levels. The analyst focuses on the 0.5 Fibonacci retracement level, which is now at 2.57%.

#XRP Dominance – FIB 0.5: IT’S TIME!

Trend lines often get invalidated, but they provide a visual guide for market structure. Add Fibonacci extensions into the mix, and you have a leading indicator to anticipate what’s next. 📈

📊 Key Levels to Watch:
On the monthly timeframe,… pic.twitter.com/ZqMyiAoomS

— EGRAG CRYPTO (@egragcrypto) November 28, 2024

If XRP closes above this level by the end of the month, it might lead to more gains. Analysts are also looking at the 0.702 Fibonacci level as the next goal for domination, which might lead to further price gains.

XRP Path To $2 Promising

XRP’s price has already grown by 16% in the last week, and it is now trading around $1.47, with a daily rise of 5%. The coin has demonstrated steady upward momentum, breaking through critical resistance zones and finding support at $1.30.

If XRP maintains these levels, there is speculation that it could approach $2. Possible gains in the coming weeks are being paved by whale activity, strong technical patterns, and increasing market domination.

The success of XRP hinges on its ability to retain strong support levels and continue its upward trajectory as it gains momentum. If the upward trend continues, XRP has the potential to hit new highs in the near future.

Featured image from Yellow.com, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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