- Whale moves $64M XRP to Coinbase as ETF approval odds hit 80%.
- XRP is held by 23% of US crypto investors, boosting liquidity.
- RSI at 54.08 signals bullish momentum toward $2.50 breakout.
Ripple’s XRP appears poised for a bullish turnaround following a massive whale transfer that happened alongside increasing expectations of an ETF approval. An on-chain transaction recorded a massive XRP transfer of 29.5 million units which holds a value of around $64 million.
The unknown wallet transaction to Coinbase generated significant interest from both analysts and investors. Technical indicators and market developments together with this transaction now set XRP on a path towards reaching major resistance levels.
Whale Accumulation Signals Market Readiness
The blockchain analytics firm Santiment reported heightened transactions by major XRP holders. Between 10 million and 100 million XRP holding wallets amassed more than 200 million tokens during the previous week. The trend reflects increased confidence levels among institutional investors.
Metrics from blockchain transactions indicate that major Ripple holders are moving their assets before a market-wide shift. Financial analysts notice whale behavior tends to happen before important market shifts which leads to predictions of price surges.
XRP’s increasing acceptance across the United States market contributes to its present price trajectory. Latest statistics reveal that XRP is held by 23% of cryptocurrency investors in the United States.
The broad acceptance of XRP by users has led to increased liquidity while simultaneously strengthening investor trust in the market. Trading volumes across major platforms have progressively risen which has helped to reinforce the market structure of this token.
ETF Prospects Add to Market Optimism
The prospect of XRP exchange-traded fund approval boosts the token’s market outlook. According to Polymarket prediction data, XRP ETF approval chances stand at an 80% likelihood.
Investors showed heightened interest after ProShares declared its plan to start XRP ETFs on May 14. The recent market development drove investor optimism which forced XRP’s price to approach the $2.31 resistance level.
The ETF launch represents a significant opportunity for institutions to gain access to XRP according to market participants. Increased ETF exposure could trigger a fresh influx of capital into the market according to analysts. The whale transfer’s timing corresponds with these developments and suggests key players are strategically positioning themselves.
Technical Indicators Support Positive Outlook
The price of XRP remained stable through recent market fluctuations. XRP reached a low of $2.15 on April 30 but has since recovered to a trading position near $2.20. XRP’s 20-day simple moving average holds steady at $2.1677 which functions as an essential support level.
The upper Bollinger Band position sets $2.3082 as the upcoming resistance level for traders to watch. A strong close above this level accompanied by significant volume could initiate price movement toward $2.50 or more.
The Relative Strength Index has reached 52.44 which shows that bullish sentiment is increasing. The current RSI average of 54.08 indicates likely upward price continuation. The Chaikin Money Flow indicator shows a slight negative value of -0.13 yet remains close to the neutral zone.
Improved capital inflows could lead to confirmation of renewed buying interest through this indicator. When Bollinger Bands narrow together they predict a possible price breakout that matches the present market trends.
