The crypto market remains volatile, leaving investors uncertain about the future. Amidst the fluctuations, large investors (whales) are showing increased interest in Cardano (ADA) and XRP, sparking speculation about potential price movements in the near term.
Cardano (ADA) Sees Heavy Accumulation Despite Price Dip
Over the past 30 days, whales have acquired 140 million ADA, demonstrating strong long-term confidence in the asset despite its price dipping below $1. The ongoing accumulation trend suggests that ADA could experience a significant price surge if buying momentum continues.
Currently, Cardano’s price is trading within a tight range, with strong support between $0.64 and $0.76. This level has remained stable for over a month, providing a crucial foundation for potential upside movements. At the time of writing, ADA is trading 2% higher at $0.95. Analysts believe that if ADA holds above $0.85, it could aim for a rally toward $1.11. Additionally, Cardano is set to undergo a critical hard fork today, which could influence price action.
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XRP Whale Activity Hits Record High
Similarly, XRP has seen a surge in whale transactions, with the number of wallets holding between 1 million and 10 million XRP reaching an all-time high of 2,083. This trend indicates that major investors see XRP as undervalued or anticipate a strong price breakout.
Large-scale XRP purchases are often a precursor to a bullish rally, boosting optimism among retail traders. On January 29, XRP briefly surged to $3.20 before pulling back to $3.12. To maintain bullish momentum, analysts suggest that XRP must stay above $2.76 – $2.97. If XRP breaks past $3.40, it could ignite a rally toward $4 and beyond.
With whale accumulation on the rise, both ADA and XRP appear poised for significant movements. Stay updated with The Bit Journal for the latest insights on the crypto market and key investment trends.
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The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
