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XRP/USD has risen significantly, gaining over 50% after the Trump victory. It has reached a peak of around 0.7400 but has seen some minor profit-taking, currently trading at around $0.6543.
Whale Activity
Recently, there has been a lot of activity from large investors, known as "whales." On November 6, big transactions included a massive transfer of 586 million XRP (about $297 million) to unknown wallets, indicating that major holders are consolidating their investments. One notable transfer created a new whale with 104 million XRP (around $56 million). In the last two weeks, large shareholders added about 390 million XRP (worth around $199 million) to their holdings, suggesting growing confidence in XRP as a long-term asset. The number of active accounts on the XRP Ledger has also increased significantly, from nearly 10,000 at the start of October to over 24,000 now, showing more community engagement. Ripple's CEO mentioned strong institutional interest, with companies looking to develop XRP ETFs and trust products, which could enhance XRP's market position.
Analyst Predictions
Analyst Myles G has forecasted that XRP could surge by 464% to reach $3 by the first quarter of 2025. He believes XRP could reclaim $1 as soon as this month or by November, and potentially rise to $2 by Christmas. Similarly, analyst Zach Humphries supports this outlook, suggesting that XRP might also reach $3 during the current bull market. He points out that XRP's recent performance, with an increase of over 13%, indicates a likely upward trend.
Regulatory Context
Analysts believe that if regulatory clarity improves, XRP could approach the $1 mark.
Technical Analysis
Horizontal Trend Line: $0.680
If it closes below $0.38, it may signal further bearish trends.
The pair is trading above both short-term (34 EMA and 55 EMA) and long-term (200-day EMA) moving averages on the 4-hour chart.
Near-Term Resistance Levels
Immediate resistance is at $0.7400. If it breaks above this level, it could rise to $0.820, $0.900, or even $1.
- Immediate support is at $0.5500. If this is breached, it could fall to $0.500, $0.45, or $0.40. A breakout above $0.750 could target $1.
Indicator Analysis
- Directional Movement Index: Neutral
- CCI (50): Bullish
Buying on dips around $0.6000 may be a good strategy, with a stop loss set at $0.478 and a target profit of $1.
