- The price of XRP has risen from $ 2.00 to $ 2.93 after Trump’s announcement, which recorded 19.1 billion XRP records.
- The whale added an additional 8m USDC to close the short position and avoid liquidation, showing a sharp change in market sentiment.
RIPPLE (XRP) witnessed a massive increase in price on March 2 with President Donald Trump’s unexpected announcements.
The US government has unveiled its plan to establish an encryption reserve forces that XRP will be a key component.
This resulted in an immediate optimistic response and pushed to the highest level of several months.
This surge also caused a major whale reaction, and a large merchant added $ 8 million in USDC to rush to close the XRP short position and avoid liquidation.
The current price is pivotal, and traders are looking at whether optimistic momentum continues.
XRP’s price response to Trump’s password preliminary plan
After the announcement, XRP saw the rapid increase in prices from $ 2.00 to $ 2.93 before experiencing some support in a single trading session.
Spikes meant 29% increase in the last trading session. The 12 -hour price chart reflects this tremendous volatility, increasing the purchase pressure and increasing amount.
Source: TradingView
At the time of this article, the XRP was traded at $ 2.81, reflecting 4.27%of fullback at the highest point. Nevertheless, it is much higher than the previous level of resistance, and if the momentum persists, it suggests the possibility of additional profits.
Where can XRP go next?
For more information on the Fibonacci Retression and Extension levels, we will provide insight into the possible price goals.
This chart indicates that the XRP has removed the main resistance near $ 2.50 and is currently acting as a support.
If the trend continues, the next key level is $ 3.00, psychological resistance point. The nearest thing above can cause another wave of purchase.
Source: TradingView
The 1.618 Fibonacci Extension level of $ 3.38 takes up another important area of price discovery. If the momentum is strongly maintained, $ 3.83 appears as an extended resistance level that can strengthen profits.
If you go back, the range of $ 2.50 – $ 2.60 acts as an important support area. Deep modifications can be pushed for $ 2.15 for XRP, and additional purchase interests can appear.
Trading volume, whale activity: Are you optimistic or cautious?
The trading volume chart confirmed the historical surge in XRP activities after Trump’s announcement. The volume is soaring to 19.1 billion XRP and knowing the huge purchase interest.
This level of trading activities suggests that the market is continuously increasing the possibility of price audit by absorbing the news in a guilty ruling.
Source: Santiment
Large whale movements further emphasize market changes.
The main merchant indicates how unexpectedly it is to the unexpected people by injecting an 8m USDC into a margin to close the short position and avoid liquidation.
Is XRP set for more profit?
The explosive rally of XRP, following the US Cryptographic Reserve, judged interest on assets.
The rapid increase in trading volume combined with whale relocation suggests that if the XRP violates the major resistance level, it can maintain the strong structure.
Traders must watch the level of $ 3.00 resistance to the signs of additional failures. If the speed is slow, you can sponsor $ 2.50 where strong support is established.
The XRP, which is currently at the center of the US government’s discussion, is expected to continue to volatility in the future.