XRP Dips Below  As Whales Buy Amid Ripple Roadmap Update

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The XRP price was traded at $2.87 as of 1:23am ET, at a rate of the last 24 hours, but whales scooped up the code amid a new update to the Ripple XRPL Roadmap.

According to Ali Martinez, an analyst with over 157k followers for X, the whales have purchased over 30 million XRP tokens in the last 24 hours.

This came when Ripple posted to X in the next phase of its roadmap. This explains how the XRP ledger (XRPL) is upgraded, allowing banks and regulated companies to safely use Decentralized Finance (DEFI).

We provide an overview of native lending protocols, compliance tools, privacy protection, and plans for Stablecoin, RLUSD awarded in its US dollars. This allows institutional payments and lending.

With over $1 billion in Stablecoin transactions per month at XRPL, Ripple has established itself as a trusted blockchain platform for traditional financial institutions.

XRP price attempts to recover after Golden Cross – Are breakouts coming in?

The price of XRP shows a mixed yet evolving technical situation. After forming a parabolic curve in June-July, XRP experienced a sharp rally above the 200-day simple moving average (SMA), triggering a golden cross in late July.

However, since its peak in early August, Ripple token prices have been traded within downward channels marked with low highs and lows. Recent candles show that XRP prices are testing this downward channel cap, suggesting possible breakout attempts.

Currently, XRP is trading around $2.87, just below the 50-day moving average ($2.99). The critical closeness above this SMA could show new bullish momentum, especially when the XRP is maintained above the channel resistance. On the downside, the 200-day SMA, nearly $2.53, serves as a strong support zone.

The relative strength index (RSI) is located at 42.6, placing the XRP in the neutral two-week region. Not over-excessively, the RSI shows that the bearish momentum is declining, leaving room for upside down if buyers regain control.

If the XRP successfully breaks over the downward channel and retrieves 50-day SMA, the next level of resistance to watch is around $3.20 and $3.60, with the previous supply zone aligned.

XRP PriceXRP Price

Conversely, if the XRP price does not close beyond channel resistance and falls below $2.80, you can drag it to $2.60 or retest the 200-day MA at $2.53.

Crypto analyst Ali Martinez claims that if Ripple Tokens can hold the $2.71 level, sellers can be exhausted, and buyers who take control of their assets can push XRP to $3.60.

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