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XRP is navigating an environment of volatility as its push toward $3 resistance appears to have stalled amid the broader market correction. Despite the current market sentiment, XRP is witnessing increasing buying pressure from whales, a key factor likely to spur price growth. At press time, XRP was trading at $2.24, having rallied over 1% in the last 24 hours. Over the past seven days, the Ripple -affiliated token has plunged almost 17%. XRP seven-day price chart. Source: Finbold A review of on-chain metrics shared by prominent analyst Ali Martinez on December 24 indicates that XRP whales acquired 40 million tokens within 24 hours. XRP whale transaction chart. Source: Santiment/Ali_charts Indeed, this buying pressure comes as a major vote of confidence for XRP, especially considering the token has recently faced sustained selling pressure. For instance, as reported by Finbold on December 19, XRP recorded a $7 billion outflow in capital in a single day, mirroring the general market trend. XRP price prediction If history repeats itself, XRP could be gearing up for a potential upward move, as large-scale accumulation by whales has often preceded price growth. Regarding potential price action, Finbold turned to OpenAI’s artificial intelligence (AI) tool, ChatGPT-4o , for insights into how the asset might trade amid the current investor interest. According to the AI tool, the impact of whale accumulation would likely take effect within a week and could be influenced by external factors such as overall market sentiment. Over the next 24 to 48 hours, the whale transactions and increased buying pressure may push the price to $2.30 to $2.40. The platform further noted that sustained buying momentum within three to five days could drive XRP to trade between $2.50 and $2.60, with potential consolidation at those levels. If bullish sentiment continues, XRP may challenge the $2.75 and $3 resistance zones within a week, provided no adverse market events occur. Conversely, in a bearish scenario, the price could retrace and stabilize around $2.15 to $2.20. XRP price prediction. Source: ChatGPT/Finbold Away from whale activity, XRP remains susceptible to market trends, with elements such as the Ripple and Securities and Exchange Commission ( SEC ) case being a key influence. Notably, part of XRP’s recent breakout from prolonged consolidation below $1 was driven by the news of Gary Gensler’s exit from the SEC. What next for XRP As things stand, XRP investors hope for further upward movement if the asset maintains its valuation above the $2 support level. The token recently saw significant capital outflows that pushed it below this critical mark. XRP could rally further, as it is trading above its 50-day simple moving average ( SMA ) of $1.61 and the 200-day SMA of $0.81, pointing to possible bullish sentiment in the short and long term. Elsewhere, the 14-day Relative Strength Index ( RSI ), currently at 55.19, lies in the neutral zone but leans slightly bullish, suggesting that XRP is neither overbought nor oversold. This leaves room for further price movement depending on shifts in market sentiment. Featured image via Shutterstock The post XRP price prediction as whales amass 40 million tokens in 24 hours appeared first on Finbold .
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Toncoin Signals Accumulation Phase as Open Interest Hits Nine-Month Low – What’s Next?
Toncoin (TON) appears to have now entered a notable phase in its market cycle, presenting potential opportunities for investors. A recent analysis by CryptoQuant analyst Joao Wedson highlights that TON has moved into a favorable risk zone for accumulation, as indicated by the Normalized Risk Metric (NMR). This metric evaluates an asset’s price risk relative to historical data, providing a clearer picture of whether the current price levels are suitable for investment or if caution is warranted. Related Reading: Toncoin Consolidates: Could A Breakout Push TON Higher? Toncoin Current Market Outlook The NMR uses moving averages such as the 50-day and 374-day simple moving averages (SMA) along with logarithmic differences in price data to determine risk exposure. A normalized score ranging between 0 and 1 indicates the level of risk, with values closer to zero suggesting a lower chance of price decline. According to Wedson, TON’s current placement in the green zone signals reduced risk, making it an appealing opportunity for investors seeking long-term exposure to the asset. The analysis further suggests that while the medium and long-term risk profiles appear favorable, there remains a possibility for TON’s price to revisit historically significant support zones, often referred to as the “blue zone” on price heatmaps. Historically, these levels have served as price floors and accumulation points for investors expecting future price appreciation. Open Interest Decline and Market Volatility Trends Another CryptoQuant analyst, Maartunn, has added further context to Toncoin’s current market stance. According to his observations, TON’s Open Interest (OI) in the futures market has decreased to $141 million, marking the lowest level observed in the past nine months. Open Interest refers to the total value of outstanding futures contracts and is a key indicator of market sentiment and participation. A decline in Open Interest generally signals reduced market activity and lower volatility. While this trend is specific to TON, it reflects a broader pattern across the cryptocurrency market as the year comes to a close. Historically, periods of low Open Interest are often followed by significant price movements, either upward or downward, once liquidity returns to the market. Related Reading: Toncoin’s 90-Day Returns Turn Positive: Is A Massive Rally On The Horizon? Lower Open Interest combined with Toncoin’s favorable risk metrics may suggest a period of price stability and reduced volatility. Risk-Adjusted Returns and Drawdowns: A Look at Unrealized Profits in TON “The Open Interest and Funding Rates chart complements this narrative by highlighting steady open interest levels, which demonstrate sustained participation in the TON ecosystem.” – By @ShivenMoodley More… pic.twitter.com/DIpNabROij — CryptoQuant.com (@cryptoquant_com) December 24, 2024 Featured image created with DALL-E, Chart from TradingView Finbold
Lawyers Urge Crypto Firms to End Ties with Milbank Law Firm
John Deaton and Tyler Winklevoss criticize Milbank for hiring anti-crypto officials. Gurbir Grewal`s history raises concerns among crypto firms and stakeholders. Continue Reading: Lawyers Urge Crypto Firms to End Ties with Milbank Law Firm The post Lawyers Urge Crypto Firms to End Ties with Milbank Law Firm appeared first on COINTURK NEWS . Finbold
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Bullish Lists Ripple’s RLUSD Stablecoin to Expand Offerings
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