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Ripple whales have accumulated almost 50 million XRP (equivalent to about $26.5 million).

XRP is about to break important resistance levels: The 50-day moving average at $0.56 and the 200-day moving average at $0.54. #Ripple [XRP] has been trading in a sideways trend for the past few days, and the #token failed to break through key resistance levels despite positive price dynamics. However, whale investors have shown renewed interest in increasing their holdings, and the inflow of #XRP to exchanges continues unabated.
According to Santiment, over the past three days, the number of addresses of Ripple "whales" owning from 1 million to 10 million XRP has increased. The total number of such addresses increased from 1,606 to 1,614.
Over this period, "whales" acquired a total of about 50 million XRP, which corresponds to about 26.5 million U. S. dollars.
This accumulation is especially noteworthy if we consider that the price of XRP remained unchanged without significant changes. Despite the stagnant price, whales are betting on a potential breakout and long-term growth.
An analysis of Ripple's daily price dynamics shows that XRP is trying to break above the 50-day and 200-day moving averages.
The 50-day moving average (yellow line) acts as a long-term resistance line and at the time of publication was at $0.56, while the 200-day moving average (blue line) was at $0.54. Last week, XRP saw a short-term uptrend, but not strong enough to lift the price above the 200-day moving average. XRP #rose slightly to USD 0.53 in the last trading session. However, the momentum has not been sustained and the price is still near this level. In addition, Ripple's Relative Strength Index (RSI) stood at 42, indicating a downtrend approaching oversold territory.
So, if the price continues to fall, it could fall further into bearish territory.

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To prove it, the analyst spoke about bitcoin's previous bull cycles in 2012, 2016 and 2020. According to Mr. Tokhagapsov, in 2012, BTC rose from a modest price of $12 to $1,000, recording an outstanding 9,000% increase in value.

After this cycle, the #cryptocurrency experienced another significant rise in price in 2016, from $650 to $19,000, a remarkable 3,000% increase; in 2020, despite the market volatility at the time, #bitcoin #rose from $8,000 to an all-time high of $69,000. It rose sharply, showing a significant 1,200% increase in price.Based on this recurring bullish trend, Tagapsov predicts a 450% increase in the value of #BinanceTurns7 to $330,000 in 2024. During each four-year cycle, Tagapsov counts down approximately 800 days until bitcoin begins its bullish rise. Based on his price charts, the market has already entered the bullish phase, which is gradually gaining momentum and will soon reach all-time highs. Despite Tagapsov's optimistic outlook, bitcoin is in a serious downtrend and is facing significant volatility and price declines as the market continues to fluctuate. Various analysts have predicted massive gains for BTC in this bull cycle, but in recent weeks the cryptocurrency's value has fallen below the $60,000 mark.According to cryptocurrency analyst Ali Martinez, the cryptocurrency market is showing extreme fear, which could be due to the falling value of bitcoin and mass liquidation. According to CoinMarketCap, BTC is trading at $58,041 at the time of writing, with a 14% drop in price over the past month.Read us at: Compass Investments

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