Following a massive 460% surge, XRP is consolidating after hitting $2.8 on December 3, then dropping to $2.22 on December 5. Technical analysis suggests XRP will break $5 within three days, fueled by whale accumulation during the price dip.
Technical indicators show XRP could surpass $5.26 by December 11. CryptoInsightUK highlighted historical patterns where breaking through 0.5-0.618 Fibonacci levels leads to rapid price increases, as seen in a prior breakout reaching $2.9 within three days.
XRP's current trading range sits between 0.5 and 0.618 Fibonacci retracement levels. A similar breakout trajectory could push XRP to reach $5.26. Analyst CryptoinsightUK cites increased market velocity for a faster rally.
Whale activity is influencing the bullish outlook. Recent large-scale XRP purchases serve to prevent further price declines and provide liquidity for the rally, with addresses holding 1-10 million tokens buying 120 million XRP worth $288 million.
