XRP The token is trading at $2,87, up 2% in the past 24 hours. This growth came after whales accumulated 30 million tokens, and trading volume increased by 18% to $7,53 billion.
According to renowned crypto analyst Ali Martinez, major investors are preparing for an altcoin breakout. He also shared a 4-hour chart to support his prediction.
On the daily chart XRP reached $3,16, a resistance zone that prevented further growth. The price is now just below the median of the 20-day Bollinger Bands range at $2,97.
Narrowing bands indicate decreasing volatility, a situation that often leads to a breakout. Whether this move is up or down depends on how XRP will fluctuate between $2,97 and $3,16.
The accumulation/distribution line began to level off around 161,5 billion, indicating a decline in demand, while the Chaikin oscillator at -3,694 billion reflects a short-term outflow of funds.
The Chande Relative Strength Index is neutral at 55,11, leaving room for movement in either direction. Historical volatility is down to 34,55, suggesting consolidation ahead of the next major swing.
From a bullish perspective, a break of $2,97 and $3,16 would open the way to $3,70, especially with the support of rising accumulation/distribution levels and a positive Chaikin Oscillator. On the other hand, if token will not hold at $2,77, it could fall to $2,50 or even $2,30 if selling accelerates.