$14 Million in XRP Just Moved, Analyst Says This Could be a Calm Before the Storm

Key Points

1. A whale opened a $14.03 million long position in XRP at approximately $2.30 per XRP, with a liquidation price at $1.5782, indicating a high-risk, high-reward strategy.

2. XRP's price has increased by 3.79% in the past 24 hours, reaching $2.44, with analysts noting a breakout above the $2.20 resistance level.

3. Analysts suggest that if XRP holds above $2.40, the next major resistance levels are between $2.70 and $2.90, with potential for a trend reversal if it surpasses $2.90.

4. The trade has intensified focus on XRP's next moves amid its broader macro backdrop, including the legal battle between Ripple and the SEC.

5. XRP's trading volume and open interest are rising, with some viewing the breakout as a precursor to a larger market move.