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XRP Price Skyrockets as Volume Jumps 191%, Whales Target $5 Amid Bullish Surge

XRP Price Skyrockets as Volume Jumps 191%, Whales Target $5 Amid Bullish Surge

  • XRP volume surges 191% as whales aim for $5.
  • Strong technical setup fuels bullish momentum toward higher resistance levels.
  • Derivatives data shows aggressive trader positioning ahead of potential rally.

According to fresh trading data, XRP has posted one of the most significant recoveries in the cryptocurrency market this year. The asset rose to $3.60 and was short-term profit-taken after a prolonged consolidation period between $2.30 and $2.80.


The retreat was halted at the 26 EMA at around $3.03, where buying momentum was swiftly restored. This quick recovery raised the price back to more than $3.30, indicating that the market was in demand.


Both the 200 EMA and 50 EMA are in an upward trend well below current levels, indicating a firmly established uptrend. In the meantime, the Relative Strength Index has pulled back out of the overbought zone yet is above the midline, which implies that the bullish impetus is not yet dissipated.


XRP

Source: Tradingview

Also Read: Trending: BlackRock Finally Filing for XRP ETF? Here’s What’s Happening


Whale Activity and Derivatives Market Drive Bullish Targets

Over the past 24 hours, XRP’s trading volume has jumped by 194.24 percent to $18.16 billion, highlighting intensified market participation. Derivatives open interest increased by 20.41 percent to $8.79 billion, meaning new money is still flowing into the market.


Notably, the volume of options increased by 1,355 percent as traders aggressively positioned themselves ahead of an expected increase in volatility.


Whales are on the bullish trend, with Binance’s top trader long-to-short ratio at 2.47 by account and 2.75 by position, showing a definite slant towards long exposure.


Analysts observe that the next key area that buyers need to test is at the $4.00 mark. A break above this level may set the stage toward the $4.50 and possibly the $5.00 goal, provided the momentum remains strong.


However, maintaining this impulse will be necessary. A decline in speculative interest would provoke a more dramatic retreat, particularly if the price drops below $3.00.


Staying above $3.20 would strengthen the upside, and a drop below $2.90 can indicate the failure of the present bullish trend.


XRP’s robust trading volumes, strong whale positioning, and solid technical setup point toward continued upward potential. As long as key support zones remain intact and capital inflows are sustained, the cryptocurrency could stay on track toward testing the $5.00 mark in the coming sessions.


Also Read: Whales Scoop Up 230M DOGE as Price Breaks Key Level — Next Stop $0.29?