Ripple Whale Moves $64M As Analyst Predicts XRP Price Bullish Breakout

Monicah W

Ripple Whale Moves $64M As Analyst Predicts XRP Price Bullish Breakout

A large XRP transfer worth over $64 million by a Ripple whale has caught market attention as analysts suggest a possible bullish breakout. The transaction involved 29,532,534 XRP moving from an unknown wallet to Coinbase, hinting at renewed activity among large holders.

As XRP continues to trade above key support levels, traders are watching the market closely. Technical signals and whale movements are adding to speculation about a potential rally in the coming days.

Ripple Whale Activity Increases Ahead of Market Move

On-chain data has confirmed that Ripple whales have increased their positions. According to Santiment, wallets with 10 million to 100 million XRP tokens added over 200 million XRP last week.

This rise in accumulation by Ripple whales is seen as a possible move by institutional investors preparing for a price shift. At the same time, 23% of U.S. crypto investors now hold XRP, making it one of the most recognized tokens in the country.

Moreover, with the XRP ETF approval odds rising to 80% according to Polymarket, investor interest is rising. In addition, the Proshares XRP ETFs are supposed to launch on May 14 has boosted optimism of XRP price reclaiming $3.

The recent $64 million transfer into Coinbase has added to this outlook. Some analysts believe this move signals confidence by whales, who often act ahead of broad market trends. If true, the token could be preparing for a breakout toward key resistance zones.

XRP Price Action Signals Bullish Outlook

XRP is currently trading around $2.20 after recovering from a recent dip to $2.15. The price dropped on April 30, which triggered $13.9 million in long liquidations compared to just $1.49 million in short liquidations.

Crypto analyst Javon Marks commented on the situation, noting, “With lower timeframes confirming bull signals, another upside move can be in the works for XRP.”

Following the drop, the token’s futures open interest declined by about 4%, which may show traders adjusting their risk. Despite this, XRP price remains above its 20-day simple moving average (SMA), which is now seen as an important support level at $2.1677.

The upper Bollinger Band at $2.3082 is now a key resistance. If XRP price closes above this level with high volume, a push toward $2.50 or $2.80 is likely.

Momentum Indicators Show Mixed Signals

The Relative Strength Index (RSI) is currently at 52.44. It remains in the neutral zone but is slowly increasing, which may suggest building buying interest. The RSI average is at 54.08, and the small divergence between these levels is being monitored closely.

XRP/USD 1-day price chart (Source: TradingView)
XRP/USD 1-day price chart (Source: TradingView)

The Chaikin Money Flow (CMF) is at -0.13, indicating some capital outflows, but it remains near the neutral line of 0.00. If the CMF moves into positive territory, it would signal a return of buyer strength in XRP price.

The Bollinger Bands have also narrowed, which often suggests a breakout could happen soon. Traders are now watching for price movement above $2.31 with rising volume, which would support the bullish scenario.

The post Ripple Whale Moves $64M As Analyst Predicts XRP Price Bullish Breakout appeared first on CoinGape.

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Immutable (IMX) Breaks Out, Daily Gains Hit 15% With Traders Eyeing $0.70

Immutable’s utility token, IMX, is today’s top-performing altcoin, climbing nearly 15% over the past 24 hours. As of this writing, the altcoin trades at $0.64.

On-chain data points to a resurgence in bullish sentiment, suggesting that the rally may have legs in the short term. This analysis explains how. 

IMX Traders Go Long and Network Activity Supports the Climb

IMX’s long/short ratio has risen above 1, indicating that many market participants are opening long positions in anticipation of continued upside. According to Coinglass, this currently stands at 1.004. 

IMX Long/Short Ratio.
IMX Long/Short Ratio. Source: Coinglass

The long/short ratio measures the proportion of bullish (long) positions to bearish (short) positions in the market. When the ratio is below one, more traders are betting on a price decline than on a price increase.

Converesly, as with IMX, a ratio above one means there are more long positions than short ones. This suggests bullish sentiment, with most traders expecting the asset’s value to rise.

IMX’s price daily active address (DAA) divergence, which remains positive, further strengthens the bullish case. This metric, which measures an asset’s price movements with the changes in its number of daily active addresses, is currently at 63.22%.

IMX Price DAA Divergence
IMX Price DAA Divergence. Source: Santiment

When an asset’s price rally is accompanied by a positive DAA divergence, it is considered a bullish signal, suggesting growing interest and the potential for further price appreciation. 

This reflects that IMX’s recent price hike is supported by sufficient user activity on the network rather than driven solely by speculative trading.

IMX Price Outlook Strengthens

On the daily chart, the setup of IMX’s Moving Average Convergence Divergence (MACD) supports the bullish outlook above. At press time, IMX’s MACD line (blue) rests above its signal (orange) and zero lines.

An asset’s MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines. 

When the MACD line is above the signal line, buying activity dominates the market, hinting at further price rallies. If this holds for IMX and the token maintains its uptrend, it could break above the resistance at $0.73 and climb to $0.79.

IMX Price Analysis.
IMX Price Analysis. Source: TradingView

On the other hand,  if sellers regain market control, they could drive IMX’s value down to $0.55. 

The post Immutable (IMX) Breaks Out, Daily Gains Hit 15% With Traders Eyeing $0.70 appeared first on BeInCrypto.

Stacks (STX) Leads the Market with 20% Jump Amid Bearish Futures Bets

STX is today’s top performer, soaring nearly 20% in the past 24 hours. Alongside the price surge, the token’s trading volume has also spiked, signaling strong interest from investors. 

However, despite the rally, on-chain data reveals a high demand for short positions among traders, suggesting doubts around the longevity of STX’s current uptrend.

Stacks (STX) Jumps 20%, But Bearish Traders Dominate

According to Coinglass, STX’s long/short ratio is currently at 0.97, signaling a preference for short positions among its futures market participants. 

STX Long/Short Ratio.
STX Long/Short Ratio. Source: Coinglass

The long/short ratio measures the proportion of bullish (long) positions to bearish (short) positions in the market. When the ratio is above one, there are more long positions than short ones. This suggests bullish sentiment, with most traders expecting the asset’s value to rise.

Converesly, as with STX, a ratio below one indicates that more traders are betting on a price decline than on an increase. This suggests that many token holders are unimpressed by STX’s double-digit gains over the past day and anticipate a bearish reversal soon. 

Moreover, STX’s overbought Relative Strength Index (RSI) supports this bearish outlook. At press time, this momentum indicator is at 74.35 and on an upward trend.

STX RSI.
STX RSI. Source: TradingView

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a price decline. Converesly, values under 30 indicate that the asset is oversold and may witness a rebound.

Therefore, STX’s RSI reading confirms that altcoin might be overbought and could witness a price decline in the near term.

Can STX Defy Overbought Signals?

Once buyer exhaustion sets in, STX could shed some of its recent gains. In this scenario, the altcoin’s value could plunge to its year-to-date low of $0.47. 

However, an RSI reading above 70 does not always signal an immediate reversal. Strong bullish momentum can sometimes sustain the rally, pushing prices even higher despite overbought conditions. 

STX Price Analysis
STX Price Analysis. Source: TradingView

If demand strengthens, STX’s rally could persist, potentially allowing the token to break above the resistance level at $1.07.

The post Stacks (STX) Leads the Market with 20% Jump Amid Bearish Futures Bets appeared first on BeInCrypto.

Bitcoin Price To $1M: What’s Behind Robert Kiyosaki & Arthur Hayes’ BTC Prediction?

Bitcoin Price To $1M: What's Behind Robert Kiyosaki & Arthur Hayes' BTC Prediction?

Most financial experts are speculating about how much Bitcoin price will appreciate. Prominent individuals such as Arthur Hayes and Robert Kiyosaki are forecasting BTC to reach $1 million in the not-so-distant future. Such lofty forecasts are coming as concerns grow about economic stability worldwide, government budget deficits, and monetary policy moves.

Arthur Hayes Foresees Bitcoin Price to $1 Million

Arthur Hayes, ex-BitMEX CEO, has a $1 million target for Bitcoin. He said this in an interview with cryptocurrency YouTuber Kyle Chasse. Hayes said that this target may be achieved by 2028. He justified his forecast by pointing to increasing government deficits and monetary policy as the primary drivers.

Hayes shared the same long-term BTC price target at the Token2049 event. He reports that the Biden administration approved about $7.1 trillion of net Treasury debt while in office. This was the period when the Bitcoin price rose sixfold. Hayes mentioned that during the Trump administration, the deficit is already 22% higher in the first half of the year compared to last year.

Hayes also recognizes a number of factors that will propel further deficit growth. They are an aging American population that will require additional Social Security and Medicare expenditures, increased defense spending, and the expense of bringing manufacturing back to the United States. These costs, added to increasing interest on the debt outstanding, represent what Hayes sees as a mathematical certainty.

The investor indicates that these fiscal stresses will be a boon for the Bitcoin price. He points to recent policy signals, such as Treasury buyback programs and potential changes to supplemental leverage ratios for banks, as signs that authorities will continue to seek ways to maintain market stability by providing liquidity.

Hayes predicts the BTC price will reach $250,000 by the end of 2025. He expects the most aggressive price action to happen in 2026-2027 when he expects a “money printing bonanza.”

Robert Kiyosaki Shares the Same BTC Price Vision

“Rich Dad Poor Dad” author Robert Kiyosaki has aligned with Hayes’ million-dollar Bitcoin prediction but with a slightly longer timeframe. In an April tweet, Kiyosaki stated that by 2035, one Bitcoin will be over $1 million.

Kiyosaki frames his Bitcoin outlook within an overall economic warning about an impending financial crisis. He points to multiple concerning indicators like record-high credit card and U.S. government debt, rising unemployment, and diminishing 401(k) values.

The financial educator mentions that he has consistently warned about this economic scenario across multiple books. For those concerned about financial stability, Kiyosaki repeatedly recommends a strategy centered around hard assets like gold, silver, and Bitcoin.

What distinguishes Kiyosaki’s perspective is his view that the coming economic crisis is not just a threat but also an opportunity. He suggests that individuals who take action to acquire even small amounts of Bitcoin, gold, or silver before the “giant crash” could “come through this crisis a very rich person.”

The post Bitcoin Price To $1M: What’s Behind Robert Kiyosaki & Arthur Hayes’ BTC Prediction? appeared first on CoinGape.