Whale accumulation, declining balance on exchanges and bullish chart patterns are backing XRP’s potential rally to $3.00.
XRP (XRP) has been trapped within a tight range over the last eight days. The altcoin was trading just above its $2.00 support after a marketwide recovery over the weekend.
Onchain and technical data now show that the XRP/USD pair is well-positioned for a breakout toward $3.00.
XRP’s price has been consolidating between $2.03 and $2.13 since April 14. The daily relative strength index (RSI) remained flat at around 49 over the same period, signaling market indecision.
