A silent Ripple accumulation phase has created strong pressure for a breakout against Bitcoin as XRP was barely moved over the past few days. The asset continued to fall against Bitcoin so let’s read more in today’s Ripple XRP news.
While other altcoins are bleeding out against BTC, Ripple whales are accumulating and are soaking up the supply that could soon cause a huge breakout against Bitcoin. It’s hard to imagine that an asset of any type is bullish when it is now falling and setting new downtrend lows. However, there’s more going on behind the scenes as the pressure is building and it could create a massive move and change in behavior. Ripple has spent three years falling on its ratio compared to BTC as since 2019 it did nothing but trade sideways.
The long consolidation range resulted in the Bollinger Bands squeezing the two-week timeframes to the second tightest point in the trading’s pair history. History doesn’t repeat always but after the hidden bull dive on the RSI index during the same timeframe, the coin contracted the tight indication with an explosive reversal against BTC nearing. The last time around, after the second rejection from the middle-BB, the third time was the lucky one and Ripple lifted off increasing over 2000% against bitcoin.
The Silent ripple accumulation only showed that the exact same scenario is not given so XRP whales match the same sort of behavior as Bitcoin did before the recent breakout. Whale-sized BTC Wallets increased as well until there wasn’t enough supply to go around and BTC had a major bullish breakout as well. Now it could be Ripple’s turn as according to the data, the XRP wallets with 1 million or more increased by 20% while wallets with 10 million or more grew by 10%. With the whales finally deciding whether they had soaked up on the supply, the price increases should happen rapidly as investors try and catch the breakout. When XRP breaks out, the moves are substantial and the signs above are nothing to go by as overperformance gainst BTC could be coming soon.
Ripple prepares for liftoff if XRP manages to clear the $0.255 level as it showed positive signs above this level. XRP could start a strong rally if it clears the $0.2550 resistance zone, as reported in our Ripple news.
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