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Over the past ten days, whales have accumulated over 380 million XRP, worth around $228 million, suggesting that XRP is on the verge of a bullish breakout. The significant accumulation of large holders often reflects their belief in a future price increase. In the short to medium term, there could be a catalyst for bullish momentum due to recent whale activity, which suggests significant interest in XRP at its current price levels.
By examining the given price chart, we can see that XRP is currently moving in a symmetrical triangle pattern. This traditional technical sign of consolidation often occurs before a breakout in any direction. A breakout is likely because the price has curled up near the upper trendline of this triangle.
If this triangle is broken to the upside, more buying interest is likely to follow, pushing XRP closer to its higher price targets. Right now, XRP is trading at around $0.58, which is slightly below key moving averages. XRP has attempted several times to break above the 50 EMA (Exponential Moving Average), which often acts as resistance in downtrends, but so far it has failed to do so.
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A clear break of this level could signal a change in momentum from bearish to bullish. The significant amount of whale buying could also provide the liquidity and buying pressure that is much needed to trigger a breakout.
Assuming the bullish momentum continues, XRP could eventually reach the $0.70 mark if it breaks the $0.60 resistance level. The next key target would be $0.64. But XRP could fall back to its lower support level of around $0.55 or even $0.50 if the price fails to break out and is rejected at the current resistance levels. Only then would there likely be a fresh breakout attempt.
Ethereum is gaining momentum
Ethereum’s unexpected rise above the descending channel formation and above the 50 EMA suggests a possible change in momentum in favor of the bulls. After weeks of uncertainty, this sudden move has surprised many market participants as ETH showed signs of strength that could lead to a price reversal in the near term. Based on the given chart, Ethereum’s price has risen above the 50 EMA level, a critical level that usually distinguishes between bullish and bearish market direction.
A confirmed close above this barrier raises the possibility of ETH moving from a downtrend into a more optimistic, growth-oriented phase. In the near term, the following three crucial price levels should be observed. The next immediate resistance level is at $2700, which is also the 100 EMA level.
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Since this level reflects a medium-term market trend, a breakout of this level would strengthen the bullish case for ETH. This price will be the focus of traders’ attention as a breakout could pave the way for more aggressive gains.
The 200 EMA level or $2,880 represents a long-term critical resistance level for ETH. At this point, traders will assess whether the asset is ready for a true bullish breakout or if it is merely a brief reversal.
If ETH breaks through this barrier, the market may see increased inflows and a restoration of confidence.
The $3,300 psychological resistance level has historically acted as a strong psychological resistance, so a break above it could signal a significant turning point. To help ETH regain its higher valuations from earlier in the year, breaking through this barrier should increase buying interest.
Dogecoin is getting stronger
The cryptocurrency Dogecoin has confirmed a break above the 50 EMA, a critical level for the asset’s current market performance. This suggests that the asset’s price may soon reverse course. This moving average, which often serves as a crucial indicator of trend direction, was successfully crossed by DOGE, as can be seen in the chart provided.
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A move above the 50 EMA has historically indicated the end of a downtrend and the possible start of a longer-term uptrend. This discovery is significant for Dogecoin as it could signal the start of a bullish trend reversal in the near future.
The asset has been slowly gaining momentum for several months, but this recent move could inject some much-needed optimism into the market. With that in mind, $0.118 and $0.133 are the next key resistance levels to keep an eye on.
The next major hurdle for DOGE will be the $0.118 mark, indicated by the 100 EMA. If the asset manages to break above this threshold, it could be a sign of increasing levels of market certainty and a stronger drive towards a steady price increase.
The 200 EMA at $0.133 is the next resistance level and a key long-term target for DOGE. Breaking above this threshold would likely mark a complete trend reversal, setting Dogecoin up for future expansion and potentially reigniting interest in the meme-based cryptocurrency among a wider audience.
