Key Insights:
- XRP held above the broken falling wedge on the 2-day chart, consolidating after a strong rally.
- Over the past month, whales have accumulated more than 900 million XRP.
- Ripple rumored to raise Circle takeover bid to $20 billion after initial $5 billion offer rejected.
Ripple (XRP) news prediction suggested potential shift in price action alongside attemp to acquire Circle. Apart from whale accumulation, Ripple also locked XRP.
XRP News Prediction
XRP exited its falling wedge pattern on the 2-day chart then sustained above the structure which highlighted increased bullish patterns.
The price maintained stability near $2.19 and future XRP movement could reach $2.60, $2.84 and $3.00 with $3.32 acting as the main resistance point.
The analyzed levels corresponded both to recognized historical resistances and Fibonacci extensions which laid the basis for XRP news prediction on price.
The chart reflected strong trading desire through equilibrium volume rates which indicated additional upward potential for the altcoin.
Analysis viewed the wedge breakout as a positive signal after the price maintained position above the $1.81 – $2.00 support region which confirmed the bullish reversal pattern.
However, XRP may challenge the $2.00 area if it failed to maintain a price above $2.19. A breach of the $2.19 support would revoke the wedge pattern leverage and force XRP into the $1.81 consolidation area.
This way, price needed to overcome $2.60 to validate the bullish stance despite evidence from the symmetrical wedge pattern and consecutive increasing demand levels.
Continued support from this measure could guarantee the continuing escalation of prices towards $2.60 but failure to retain it may trigger a severe price reversal.
Ripple Locking XRP amid Whale Movement
An analysis of XRP whale addresses showed that quantity held by these whales grew progressively between March 23rd and May 2nd, particularly in the 10M–100M XRP range.
A total of 900 Million XRP entered whale address portfolios during this period. The price consolidation period suggested large investors were encouraged to secure their positions as they expected potential upward market movements.
Meanwhile, the pockets moved hundreds of million XRP truly well worth $443.5 Million as accumulation wave occurred. That way, Ripple enacted three separate trust agreements.
This protected $1.1 Billion really worth of XRP, and $170 Million really worth of XRP, and $66 Million well worth of XRP, including $30 Million.
The total 700 Million XRP supply became less available through these locking mechanisms. It supported three different trust transactions with a total of over 900 million XRP.
Price stability may result from Ripple enforcing escrow locks because this indicated its commitment to maintain supply restrictions.
The currency transfer indicated that Ripple was making institutional preparations. A loss of matching call for XRP could bring about charge variety balance.
The accumulation process over time could likely establish bullish market opinions according to market trends.
Ripple Attempting Circle Acquisition
Moreover, Ripple maintained its efforts to acquire Circle as the USDC issuer aside from its initial $5 Billion bid rejection. The proposed purchase amount that Ripple may make to Circle could reach $20 Billion.
Ripple seeks control of the stablecoin market through acquiring USDC to absorb its $61.4 Billion market value within RLUSD.
Such a move could establish Ripple’s dominant position on worldwide payment systems while leveraging the technology from its hidden road purchase.
The successful acquisition would make Ripple a leading power in institutional payment systems.
However, failure of Ripple’s acquisition of Circle, Stablecoin provider, could prevent the company from maximizing market share dominance after the deal, allowing Circle to pursue its public listing and maintain competitive status.