Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
This price makes XRP one of the weakest coins in the top ten, with only Dogecoin seeing a bigger drop during the month.
Notice a new change in whale behavior and a bullish signal repeating together. If both conditions persist, this could represent the first serious attempt to reverse the downward trend.
Sponsored
Sponsored
Bullish divergence return; Is a trend reversal coming?
XRP price performance showed weakness from November 4th to December 31st. XRP has recorded lower lows During this period, however, the Relative Strength Index (RSI), which measures momentum, recorded higher lows. This is considered a bullish divergence and suggests that sellers are losing momentum. Often, this type of divergence leads to a downward trend reversal.
The same pattern was repeated between November 4 and December 1 and resulted in a 12% retracement during that time. That ascent failed because the structure had no support from the governor of the whale.
Want more analysis like this? Subscribe to publisher Harsh Notaria’s Crypto newsletter From here.
This time there is a re-emergence of divergence, but the circumstances seem different.
Sponsored
Sponsored
The whales added $3.6 billion in 24 hours, unlike last time
The whale classes played the key role when the previous attempt at divergence failed. During the early December bounce (between December 1 and December 3), two large groups sold in force.
XRP wallets have reached between 1 million and 10 million A decrease in their assets From 4.35 billion to 3.97 billion XRP between November 30th and December 4th. As for the wallets containing more than one billion XRP, they decreased from 25.34 billion to 25.16 billion XRP during that period. This selling pressure may have halted the trend.
This time there is a reversal in the reaction.
XRP wallets containing more than one billion have registered a strong addition in the last 24 hours from 25.47 billion to 27.47 billion XRP. This represents a huge addition of nearly 2 billion XRP. At the current market price, this equates to about $3.6 billion.
Sponsored
Sponsored
Although the smaller whales have sold their properties so far (the one million to ten million group), the larger whales still have the most control by a wide margin.
Note this change as the main difference compared to the November attempt. Buy whales instead of selling as RSI divergence forms. If its position stabilizes, the price structure of XRP will get support from momentum and supply at the same time.
Sponsored
Sponsored
XRP price levels will decide if the reversal will continue
You need a price XRP To confirm what the indicators indicate. A clear 12-hour close above $1.92 represents the first sign of a successful reversal.
That level acted as resistance on December 22 and has rejected all attempts since then. If XRP breaks $1.92 strongly, the next test awaits at $2.02. Claiming that level would shift the focus towards $2.17 to $2.21, the area that prevented the previous rebound at the beginning of December.
A loss of support at $1.77 will weaken the case for a reversal. This would prove that the whales were premature and that the divergence failed again. If this happens, the momentum structure will be broken and the scenario of early December could be repeated.
Now they show that divergence, $3.6 billion in whale purchases, and the return of demand from larger wallets provide XRP with a much stronger foundation than the previous attempt. The confirmation remains based on the price, and $1.92 is the line to see if this time is different.
