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Ripple’s XRP Must Hold This Critical Support Line to Stay in Bull Mode

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TL;DR

  • A popular cryptocurrency analyst with over 150,000 followers on X has outlined arguably the most important support level for XRP’s current bull market structure.
  • The asset remains above it for now, while substantial whale accumulations hint at another possible price pump.

The support line in question is located around $2.81. Martinez said 1.70 million tokens were purchased at these levels, which are valued at well over $5 billion at today’s prices.

Such sizable accumulation zones typically serve as significant support or resistance lines, as investors tend to panic if their positions change from being in the water to an unrealized loss after a long time and vice versa.

XRP tested that support at the beginning of the month. At the time, the entire cryptocurrency market was in a free-fall state due to Donald Trump’s latest actions on the trade war front, as well as the movement of a couple of US nuclear submarines.

However, the bulls managed to defend it, and Ripple’s native token bounced confidently above it and hasn’t looked back since. Just the opposite, it challenged the $3.30 resistance, which, for now, has been too strong to breach.

Nevertheless, whales seem bullish on XRP’s future price movements as they keep accumulating the token. After last week’s $1 billion worth of XRP purchase, they bought another 120 million coins just a few days later.

Meanwhile, Martinez outlined $3.26 as a key resistance level for the asset’s future trajectory. If broken, it could jump to a new all-time high of $3.90, he added.

A publicação Ripple’s XRP Must Hold This Critical Support Line to Stay in Bull Mode apareceu primeiro em CryptoPotato.

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