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Cryptocurrency market fluctuations continue, and XRP investors are excited about a new movement. XRP has started signaling an upward trend by surpassing the critical resistance level of $0.5657. Can this upward movement carry XRP to the $0.64 level? Let’s take a closer look at the background of this movement and possible future scenarios.
XRP Needs to Surpass Critical Resistance Level
XRP surpassing the $0.5657 level has caused a significant stir in the market. This movement occurred following a 14% price correction recovery. Market participants are now eyeing the $0.6487 level after breaking this resistance. The movement between these two levels is crucial for XRP’s future price trajectory.
According to the liquidation map data provided by Coinglass, 208,640 XRP are at risk in the liquidation pool at the $0.58 level. Additional liquidation pools above this level could create a magnet effect that pulls the price upward. This situation could signal a potential rise for XRP.
Whales’ Confidence is Increasing
The rise in activity among XRP whales indicates growing confidence in the market. Currently, the whale-retail delta ratio is at 30.63, showing increased interest from large investors in XRP. These whales are taking long positions with the expectation of a rise, strengthening hopes of reaching the $0.6487 target level.
Coinglass data shows a continuous outflow from XRP in the last 24 hours. Despite price increases, these outflows usually indicate that investors are withdrawing their assets from exchanges for long-term holding. This situation shows increased confidence in XRP’s future.
XRP has technically made a significant breakout, supported by net outflows and whale activities. However, to reach the $0.6487 level, XRP needs to sustain this upward trend. In the coming days, whether XRP can reach this critical level will be determined by market momentum and investor behavior. A journey that XRP investors need to watch closely awaits us. At the time of writing, XRP is at $0.578.
