The post Will XRP Price See Extended 1x Rally With Massive Whale Accumulation appeared first on Coinpedia Fintech News

Despite the bearish trend, few altcoins are staging a few significant rallies this week. XRP has mounted a fresh rally as it has broken above the moving average lines, signaling an uptrend.

Bulls have re-established bullish momentum in the cryptocurrency after breaking through the overhead resistance at $0.41. Due to early resistance at $0.55, XRP has reversed above the $0.45 support level.

The SEC’s lawsuit against XRP has affected its values in the cryptocurrency market, and for the past few months, XRP’s trading prices have been fighting tooth and nail to remain competitive.

But XRP trade prices have been steadily rising over the past few days.The recent increase in XRP price is being supported by a number of factors. One of them is the Ripple token’s whale accumulation.

Approximately $130.2 million worth of XRP tokens have been moved from several cryptocurrency exchanges to numerous unidentified addresses in the previous 24 hours, according to data from Whale Alert.