The XRP price following a target-driven strategy, a trader closed their short-term XRP swing position for profit while maintaining long-term holdings. Meanwhile, the market monitors key technical levels as a prominent crypto whale opens a high-leverage long position, maintaining strong upside conviction despite an initial drawdown.
At the time of writing, XRP is trading at $1.51 with a 24-hour trading volume of $16.76 million and a market capitalization of $95.01 billion. Following the 11.42% gain over the last 24 hours, the XRP price structure and whale accumulation point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Goldman Sachs Reclaims Top Spot Among XRP ETF Holders
XRP Price Eyes $1.92–$1.96 After $1.50 Rally
According to the crypto analyst EGRAG CRYPTO, the XRP price reached the previously targeted $1.35–$1.50 zone, prompting a trader to close a swing position accumulated between $1.00 and $1.10.
The move followed a predefined strategy rather than a reaction to short-term market noise. The trader emphasized that the swing bag is now sold, while the long-term XRP position remains held for potential future gains.
Source: EGRAG CRYPTO’s X Post
The focus shifts to the XRP price’s potential technical levels in its quest to determine if the momentum will continue. The price level of $1.20-$1.30 will be key support, while $1.75 might be the next point of reaction.
A push towards $1.92-$1.96 will reinforce the overall bullish technical picture, but failure might result in a test of $0.95-$0.83.
The data from BankXRP further highlighted that a crypto whale that has been B⁺-rated and placed #2,209 has opened an enormous $3.08 million-long position on XRP by leveraging 20 times.
This whale has entered the trade at approximately $1.5465, and presently, he or she is sitting on an unutilized loss. However, the whale keeps having a completely bullish outlook on the asset.
Source: BankXRP’s X Post
Aggressive use of leverage underscores the increasing confidence of a few major traders despite the continued focus on XRP in the market.
Although 20x leverage has the capability of generating high returns, it comes with higher risk in case of liquidation when XRP moves in the opposite direction. As of now, the whale does not seem bothered by the slight decline.
Following the bullish price predictions and whale activity, the XRP price is moving in an upward direction. This move is also backed by the improving momentum in the crypto market as Bitcoin has started to move upward.
What Comes Next?
Looking ahead, investors are keeping an eye on whether the XRP price manages to hold the vital support range of $1.20-$1.30 in order to maintain its bullish trajectory.
Maintaining the support level can result in a push towards the resistance level of $1.75. Otherwise, the failure to defend the support level can result in a retreat towards $0.83-$0.95.
Also Read: XRP Rally Builds as Validator Vote Puts XRPL Upgrade in Focus
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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