XRP Price Prediction as Whale Moves $10 Million of XRP From Wallet – What's Going On?
The price of XRP has risen by 1.5% in the past 24 hours, reaching $0.393371 on a day when news of Silvergate's voluntary liquidation has hurt the market as a whole.
The coin is now up by 2.5% in a week and basically flat in the last 30 days, although it has risen by 15.5% since the start of 2023.
Combined with increasingly positive expectations concerning Ripple's case with the SEC, this upwards movement paints a bullish picture for XRP.
And with a whale apparently moving $10 million in XRP off the Bitso crypto-exchange, it's likely that the coin's holders are preparing themselves for some major returns somewhere later in the year.
XRP's chart reveals a bullish reversal, meaning that after a period of negative indicators there has been a sudden positve shift.
Its 30-day moving average (red) had recently fallen below its 200-day average (blue), yet this negative trend has been 'reversed' by the pronounced jump displayed by the coin's relative strength index (purple).
The RSI has jumped from 40 and few days ago to nearly 60, and given the steepness of this climb it's likely to continue.
XRP is currently facing a resistance level of roughly $0.4, so if it can breakt through this barrier, more joy can be expected.
It does seem that holders are expecting price rises in the coming weeks and months, with one whale moving 28.4 million XRP off the Mexico-based Bitso exchange in the past couple of days.
However, there have been a couple of other big XRP movements since this Bitso transaction, with one whale moving $23 million in the coin to Bitstamp yesterday.
At the same time, an even bigger transfer -- of 150 million XRP (about $58 million) -- has been completed today, although this time it involves one unknown wallet sending to another
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