The price of the wave organized a strong demonstration on Tuesday, crossing a crucial resistance level as the accumulation of whales accelerated and Bitcoin shot beyond $ 90,000. The demonstration was also fed by regulatory optimism after Paul Atkins assumed the position of again president of the SEC.
Ripple (XRP) Token rose to a maximum of $ 2.17 on Tuesday, 35% more than its most under this month.
The rally coincided with the current recovery in the cryptography market. Bitcoin (BTC) increased to more than $ 91,000, while other blue chip coins such as Ethereum (ETH), Dogecoin (Doge) and SUI (SUI) increased by more than 5%. Market capitalization of all cryptocurrencies increased 3% to $ 2.85 billion.
The XRP price also increased as the whales continued to accumulate. Santimento data shows that the number of XRP holders with between 10 million and 100 million tokens increased from a minimum of 291 this month to 311.
Similarly, the number of holders with more than one billion tokens increased from 158 earlier this month to 169. Those who have between 1 million and 10 million tokens increased to 2,148. The accumulation of whales is seen as a bullish signal, since these investors are usually more sophisticated.
Additional data show that the volume of XRP tokens in exchanges continues to fall, indicating that investors are not selling their holdings. These balances have decreased from more than $ 3.28 billion in November last year to $ 2.7 billion today.
XRP investors have encouraged numerous catalysts recently. Paul Atkins was sworn as head of the Bolsa and Securities Commission on Monday. Polymarket investors hope it approves the ETF XRP of eleven companies, including Vaneck, Proshares and Franklin Templeton.
Ripple Labs recently acquired Hidden Road, a main corridor at $ 1.25 billion. The company aims to integrate its $ 10 billion in daily transactions in the Book Mayor XRP.
Ripple continues to position himself as an important player in financial services, with the aim of competing with Swift. After the conclusion of the SEC vs. case Ripple, The company expects to ensure additional associations with banks and money transfer suppliers.
Technical Price Analysis XRP: Towards a 60%jump?
The daily table shows that XRP has recovered after reaching a minimum of $ 1,6112 on April 7. Since then it has bouncing by 35% from its lower point this year.
Now it has moved above the 25 -day mobile average, a sign that bullish impulse is being built. The price has also been broken above the descending trend line that connects the highest swing points since January 16. This line also marks the upper limit of a falling pattern that falls.
The relative resistance index has crossed above the neutral level in 50. As a result, the Token can continue to increase, with bulls pointing to a maximum of $ 3.40, approximately 60% above the current level. This upward view will be confirmed if the price moves above the resistance to $ 2,7045, the fibonacci setback level of 23.6%.
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