XRP Price Skyrockets by 280% in High-Value Transactions
XRP's price has surged by 280% in transactions of at least one million dollars since yesterday, indicating a shift from bearish to bullish trend. According to chart analyst Ali Martinez, who spotted this trend using data from Santiment Intelligence, XRP's whales are positioning for an upswing.
The Tom DeMark Sequential on the monthly charts has printed a 'buy' signal, while big-time crypto investors, known as whales, have cumulatively acquired 380 million tokens in the same period. This buying sentiment could shield sub-$1 liquidity pockets from unnecessary tapping.
XRP's price is currently trading inside a closed Fibonacci Wedge structure, similar to the Fibonacci Retracement tool, which indicates bigger opportunities for bulls if XRP breaks past $1.10. However, a solid close below $1 could send XRP's price all the way to retest the major demand floor at $0.50, $0.60.