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Sujit Kumar
Dec 19, 2024
by Sujit Kumar

XRP Targets $4 Amid Whale Accumulation and RLUSD Launch

XRP Targets $4

Table of contents

  1. Conclusion
XRP has been on a remarkable rally, surging nearly 300% over the past few weeks to levels last seen seven years ago. However, the momentum has recently slowed, with the token consolidating around the $2.6 mark. According to crypto analyst Ali Martinez, breaking this critical resistance level is crucial for XRP to aim for a $4 milestone.

Using a four-hour candle chart, Martinez highlighted that $2.6 has repeatedly acted as a strong barrier since December 3. XRP’s formation of a bull flag pattern indicates potential bullish momentum, but the decisive breakout above $2.6 is essential to resume its upward trend.

Whale Accumulation Reflects Strong Demand

While XRP hovers below resistance, whale activity has picked up significantly. On December 16, data from Santiment revealed that large investors acquired 830 million XRP tokens worth approximately $2.2 billion within 24 hours. This surge in accumulation underscores growing demand among high-net-worth investors.

RLUSD Stablecoin Boosts Market Sentiment

Adding to the optimism, Ripple recently announced the launch of RLUSD, a stablecoin on the XRP Ledger (XRPL) and Ethereum blockchain. Scheduled for release on December 17, RLUSD is expected to enhance liquidity and drive participation in decentralized finance (DeFi). Many market watchers believe this development could positively impact XRP’s price performance.

Conclusion

XRP’s ability to break past the $2.6 resistance will determine its path to reaching $4, as projected by analysts. The combination of whale accumulation and the RLUSD launch offers strong bullish signals. However, investors should monitor price action closely to confirm the next phase of the rally.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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XRP Targets $4 whale accumulation rlusd launch
XRP Targets $4 Amid Whale Accumulation and RLUSD Launch
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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