XRP/USD whales are significantly increasing after cracking $0.25

July 31, 2020 John Ripple 0

  • There are 29 new XRP whales holding at least 1 million coins.
  • XRP/USD had a breakout above $0.25 but trading volume is decreasing. 

XRP is currently trading at $0.251 in a daily uptrend and will most likely form a bull flag in the short-term. According to statistics from Santiment, the number of XRP whales has increased over the past month. On July 7, around 814 whales held at least 1 million XRP coins up to 10 million. That number is now at 843, meaning that 29 more whales entered the game holding at least 29 million more XRP coins.

XRP/USD daily chart

XRP is not facing many resistance levels but it has a long way to go until the 2020-high at $0.35. The next most important level to beat is located at $0.28 followed by $0.30 psychological level and $0.309. 

Bulls ave not established many support levels on the way up so consolidation would be ideal for XRP in the short-term.