Analysis

XRP to Make a Full Swing if Whales and Haulers Keep Momentum

BARCELONA, Spain – Ripple has been a great player in the cryptocurrency market. However, things took a turn for the entire market when 2022 began. Despite the hard start, XRP continues to survive and thrive in this industry.

Things started looking up when it emerged from its dip of $0.62 to $0.68, which made it enter a bullish state. Many buyers and enthusiasts have started looking at the outlook of XRP positively; however, they did not maintain enough momentum to keep it going at a steady pace when it flunked down to below $0.76.

Ripple is staying inside a low of $0.54 and a high of $0.91%, with $0.76 as the resistance barrier. Enthusiasts of this coin are not losing hope, as they are looking at Ripple breaking resistance at $0.76 and finally gaining momentum to $0.91.

XRP to Make a Full Swing if Whales and Haulers Keep Momentum
Multiple bitcoins and a candlestick chart showing data on cryptocurrency

Buyers and enthusiasts closely monitor the candlesticks as any moment of passing the $0.76 benchmark will signal the bull to go reigns-free. Momentum is continually being built up by investors, enthusiasts, and buyers, which adds to the overall value of Ripple. May “whales” have begun to emerge, with recent reports stating that investors who own over 10 million Ripple tokens have gone from 317 to a whopping 340 since the middle of February.

XRP to Make a Full Swing if Whales and Haulers Keep Momentum
Charts showing a low and high trend on a black tablet

Some haulers benefit from this kind of movement from Ripple as well. While short-term haulers might be at a loss when the value of a coin goes to -10%, this is an opportunity for the long-term haulers to accumulate, which brings the coin’s momentum again. It is a cycle that has been seen before in XRP, and if history repeats itself, then it can jumpstart the upward trend of Ripple.

With these in play, even with its struggle now, XRP will have a bright future if momentum is kept. However, if it reaches a dip lower than $0.60, this bullish theory will be inaccurate and void.

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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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