Analysis

XRP Targets $1.76 – Crypto Whale Addresses Receive XRP Altcoins

California, USA – XRP trades at $1.23, but it looks forward to trading at $1.76 after a hit of an upswing. Buyers might witness a boost of 22%. Also, a $56-million transfer appeared under the record of a Whale address.

XRP has been anticipating a 46%-boost after the strong chart pattern. This cryptocurrency might expect an advantage over SEC regarding the ongoing case against Ripple because of the developments.

The price formed a bull pennant, which is on the 12-hour chart, and it’s recommending a 46%-upswing. The positive outlook of this blockchain company is that it might win the case against SEC or Securities and Exchange Commission.

Judge Sarah Netburn scheduled a deadline regarding the case, and SEC has to comply with the request of Ripple, and the blockchain company looks forward to winning the case after the recent motion.

If Ripple wins the case, there’s a possibility for positive sentiment, affecting the XRP trading price. Now, the remittance is fighting the resistance, which is at 78.6% Fib extension and a price of $1.21. It broke over the level, being in the upper boundary.

XRP Targets 1.76 Crypto Whale Addresses Receive XRP Altcoins
XRP Whale address receives $58-billion worth of XRP during the surge

If XRP reaches a strong break, it might witness a boost after the bullish goal, and the price might reach up to $1.76. On the other hand, it should also get through the $1.35 price at a 127.2% Fib extension to trade at $1.53 before it reaches $1.76.

On another note, some whale addresses received a transfer of XRP altcoins. These addresses are active again, moving cryptos while the price is increasing. As per Whale Alert (https://www.financemagnates.com/cryptocurrency/news/xrp-whale-address-transfers-56-million-worth-of-cryptocurrency/), a blockchain tracking and on-chain analytics firm, a whale address transferred over 48 million XRP, which is worth $56 million, and the address transferred it to an unknown wallet on September 1. The progress on the price of XRP makes these addresses transfer one wallet to another to take advantage of the price increase.

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Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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