A massive $63 million XRP transfer to Binance during Friday’s crash raised eyebrows, but analysts still support a bullish XRP price prediction as smart money continues buying the dip.
Buyers stepped in aggressively around the $2 level, showing confidence despite the market shakeout.
In the last 24 hours, XRP has climbed 1.6% to $2.50, with trading volumes holding strong at 4% of its total circulating market cap — a sign that momentum may be shifting back in the bulls’ favor.
Meanwhile, ETF assets held steady despite the downturn. The recently-launched REX-Osprey XRP ETF (XRPR) is still managing over $90 million worth of the token, which is pretty much what the fund had last week.
It appears that diamond-handed XRP holders took advantage of last week’s decline to scoop up the token at a much lower price, meaning that this isolated Binance transfer is not necessarily indicative of an overall shift in market sentiment.
XRP Price Prediction: Trend Line Support Bounce and Big Volumes Favor Bullish Outlook
The daily chart shows that XRP bounced off a key trend line as it touched the $2 level.
Above-average volumes reflect the technical relevance of this level and favor a bullish XRP price prediction for the near term.
The Relative Strength Index (RSI) also jumped off oversold levels as the price climbed to $2.5. However, the token is still trading below the 200-day exponential moving average (EMA).
Moving forward, a bullish breakout above $2.70 would confirm that the token is once again en route to hitting the $3 level.
Meanwhile, if positive momentum accelerates and a breakout above $3.5 occurs, that should set XRP on course to hit $5+ before the year ends.
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The post XRP Price Prediction: $63M Whale Dump Hits Binance – But Smart Money is Already Buying the Dip appeared first on Cryptonews.
