XRP Price Recovers to $2 Amid Whale Activity and Bullish Forecasts
XRP has rebounded from a weekly low of $1.65, currently trading around $2, reflecting an 11% increase in the past day. This surge is attributed to strong buying interest from crypto whales and a bullish forecast from Standard Chartered.
- Whales transferred over 70 million XRP, valued at approximately $140 million, in two weeks.
- Standard Chartered predicts XRP could reach $5.50 by the end of 2025 and $12.50 within three years.
- The daily RSI for XRP is around 43, indicating potential for upward movement if buying pressure continues.
- A breakout above the $2.04 resistance level may align with Standard Chartered's optimistic projections.
- Bollinger Bands indicate reduced volatility, suggesting a significant price move could occur.
- If XRP drops below the key support level of $1.67, it may retest lower levels near $1.39.
- Current trading volume is $8.55 billion, bolstered by optimism following the SEC's withdrawal of its appeal in the XRP lawsuit.
- Approval of XRP spot ETFs is anticipated in Q3, potentially attracting $4 to $8 billion in investments in their first year.
XRP Price Chart | Source: TradingView
XRP Indicators on Daily Chart | Source: TradingView