While many assets in the cryptocurrency sector are booming as the weekend approaches, XRP seems to be one of them, but it has recorded only modest gains, often mixed with sudden declines, and one crypto specialist The house believes the popular token is likely to last until the end. A fall before a bullish recovery.
Specifically, a pseudonymous virtual currency trading analyst coin kid As he explained in the X post he shared on May 16th, XRP hit $0.4018 as part of a five-wave price action with a bullish divergence before a massive recovery to $0.7478. He observed that there is a possibility that it will pass through the “last core” toward the end.
At the same time, cryptocurrency market analysts believe that such price action provides an opportunity to “go all in at that point”, i.e. to buy XRP at a lower price, but his It also mentions opinions. Hopium in bears,” suggesting irrational or unfounded optimism.
XRP price analysis
Meanwhile, XRP is trading at a price of $0.52256 at the time of writing, increasing in value by 1% in the past 7 days and marginally increasing by 4.03% on a monthly basis, corresponding to an increase of 0.24% in the past 24 hours. Masu. The chart is based on data as of May 17th.
At the same time, it is noteworthy that at the center of a courtroom standoff between the widely known blockchain company Ripple and the US Securities and Exchange Commission (SEC), the XRP whale is already seizing the opportunity to accumulate more tokens. worth it.
In fact, prominent crypto analyst Ali Martinez recently noticed a significant accumulation from addresses with balances of 1 million to 10 million XRP in the past 15 days, and their total holdings are a bullish departure from yearly highs. increased by 110 million XRP.
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