XRP Price Analysis: Whale Selling Hits Multi-Year Low Amid Rising ETF Demand
- Price Recovery: XRP has rallied approximately 30% since hitting a February low of $1.11, currently trading around $1.41, with technical analyst MilkybullCrypto projecting a potential rise to $12, indicating strong market confidence.
- Whale Transfers Decline: Whale deposits of XRP to Binance have plummeted to 736 million tokens, down sharply from 2.6 billion in March, marking a four-year low, which suggests reduced selling intentions among large holders and potential for price appreciation.
- ETF Inflows Surge: U.S. spot XRP ETFs recorded $81.6 million in inflows during April, with an additional $28.17 million in the first week of May, bringing total assets to $1.43 billion, reflecting strong investor interest in XRP.
- Bullish Technical Indicators: XRP's Relative Strength Index has dipped into the 40-45 range, often preceding significant bullish movements, with analyst JD forecasting price targets between $8 and $14, suggesting a positive outlook for future price action.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP 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, XRP 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 $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.23 | 1.304 | 1.36 | 1.434 | 1.491 | 1.565 | 1.621 |
| Fibonacci | 1.304 | 1.354 | 1.385 | 1.434 | 1.484 | 1.515 | 1.565 |
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