Crypto Express

07/11 01:35

Is XRP on the verge of a rally?

At the time of writing, XRP had broken the resistance level of a bullish formation known as the ascending pattern.

This resistance has previously triggered price rejections on three separate occasions, causing XRP to decline on the chart.

However, if the price closes above this level and forms a succession of strong green candles, XRP could be set for a bullish run to $2.6.

That said, the resistance zone has attracted significant sell orders. According to Whale Alert, despite XRP’s slight gain, one whale moved a large volume of the asset into exchanges—likely for selling.

 24.54 million XRP (worth $60 million) had been transferred to Coinbase, suggesting that a potential sell-off may have begun.

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