XRP Tests $3 Support as Whale Activity and Ripple’s Banking Plans Suggest Potential Bullish Momentum
Main Idea
XRP is holding above $3 after a rally to $4, supported by whale activity and Ripple’s banking license application, indicating a bullish trend.
Key Points
1. XRP is currently trading above $3.00 after a rally to $4.00, confirming a bullish retest of a multi-year wedge breakout.
2. A notable XRP whale closed a $1.35M short position at $2.9959, signaling a potential shift in market sentiment and upward price movement.
3. Ripple’s application for an OCC banking license could enhance its legitimacy and operational capacity, potentially driving XRP’s value higher.
4. Technical indicators like MACD and RSI on higher timeframes are flattening, supporting the bullish narrative.
5. The $2.80–$3.00 zone is a key support level; if it holds, XRP could target $3.80–$4.00.
Description
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