Is XRP Poised for a Major Price Breakout?
- Price Compression Phenomenon: XRP is currently supported between $1.31 and $1.36, while $1.47 serves as a significant resistance level, forming a compression triangle that typically precedes major price shifts; breaking these barriers could trigger a substantial rally.
- Increased Whale Activity: Recently, over 71 million XRP were accumulated by major buyers, indicating a strategic bid for long-term holdings during less volatile phases, showcasing strong institutional interest in XRP.
- Active Derivatives Market: CME Group recorded over $62.87 billion in XRP futures trades this year, highlighting rising institutional focus on XRP, which may further drive price volatility in the near term.
- Wallet Behavior vs. Price Divergence: A noticeable trend of XRP withdrawals from exchanges into personal wallets reduces circulating supply, and this divergence from price movements may signal a significant decrease in market supply, warranting close monitoring.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0347 | 0.045 | 0.0523 | 0.0626 | 0.0699 | 0.0802 | 0.0875 |
| Fibonacci | 0.045 | 0.0517 | 0.0559 | 0.0626 | 0.0693 | 0.0735 | 0.0802 |
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