XRP’s Future Hangs on Whale Activity and Market Volatility

In the ever-volatile world of cryptocurrency, news of significant whale activity often sends ripples through the market. Recently, a whale transfer involving 300 million XRP has sparked speculation about a potential breakout for the digital asset. Here’s a closer look at the latest developments surrounding XRP and what they might mean for its future.

Is XRP’s Breakout Coming? Whale Activity Holds the Key

XRP consolidated near a key support level as a whale transfer of 300 million XRP, valued at over $629 million, sparked bullish speculation. The transfer from an unknown wallet to Ripple has led to discussions about Ripple’s next big play, which could involve institutional partnerships or internal liquidity adjustments. Leverage rose and long liquidations spiked, signaling growing volatility and overconfidence in the market. At the time of writing, XRP traded at $2.11, down 1.39% over the past 24 hours, consolidating within a range between $2.02 and $2.45.

XRP Price Under Pressure

XRP price started a fresh decline after failing to clear the $2.2350 resistance zone. The price dipped below the $2.120 zone and the 100-hourly Simple Moving Average. There was a break below a short-term contracting triangle with support at $2.080 on the hourly chart. The pair might extend losses if it fails to clear the $2.120 resistance zone. XRP attempted a recovery above the $2.120 and $2.20 resistance levels but faced a strong bearish reaction, forming a high at $2.2350.

XRP Price Prediction For April: Analyst Explains What To Expect

Crypto analyst Egrag (@egragcrypto) releases a XRP price prediction for April. The analyst emphasizes the current market sentiment is in a “boredom phase” and highlights critical levels that may define the token’s trajectory this month. Egrag’s chart, constructed on a monthly time frame (XRP/USDT), shows an anticipated April candle with substantial price swing possibilities. The visual forecast places XRP in a position where both upper and lower bounds may be tested before the month concludes. A potential downside may pull the price back into the $1.90–$1.79 region.

Ripple’s RLUSD Debuts on Kraken, Surpasses $10B in Volume

Ripple’s stablecoin RLUSD has debuted on Kraken, joining Archax, Bitso, and Bitstamp. The stablecoin has already processed over $10 billion in cumulative trading volume, indicating significant momentum. Kraken users can now deposit Ripple USD by heading to the funding tab on their account and selecting RLUSD. However, users cannot access RLUSD through their mobile Kraken application yet. The exchange mentioned that the stablecoin is fully backed by a reserve of cash and cash equivalents, redeemable 1:1 for USD, and suitable for financial operations such as payments, global settlements, on/off ramping, and trading collateral.