XRP builds a $1.45 stronghold... What's the next target designed by whales?

▲ XRP, USD

Even as XRP undergoes a correction around $1.50, it is firmly holding the $1.45 support level, accumulating energy for a further surge.

NewsBTC, a specialized virtual asset media outlet, reported on May 12 (local time) that the XRP price recently began a slight correction in the $1.5050 range but is still maintaining strong upward momentum. XRP has been attracting investors' attention by outperforming Bitcoin (BTC) and Ethereum (ETH) amidst the overall market volatility.

Looking at the price movement, XRP recently broke through the $1.4350 and $1.4550 resistance levels, accelerating its upward trend. After forming a short-term high of $1.5050, some profit-taking sales emerged, but the support level formed around $1.4450 appears to be effectively absorbing the selling pressure. With the current price settling above $1.45, the possibility of an upward breakout is weighted more heavily than a downturn.

From a technical perspective, if XRP decisively breaks past the $1.50 and $1.5050 resistance zones, the next target prices open up to $1.55 and $1.60. In particular, the fact that trading is maintained above the major moving averages suggests that bulls still hold market dominance. Conversely, if the $1.4450 support level collapses, downward pressure could increase to the $1.42 zone, but the current supply and demand situation is optimistic.

Market participants cite anticipation for XRP spot ETF approval and network scalability as key drivers for the price increase. As Bitcoin consolidates around the $80,000 mark, funds are flowing into XRP, driving its relative strength. The decrease in XRP holdings on major exchanges and continuous accumulation signals from whales also contribute to price rigidity against downward movement.

XRP is currently undergoing a price consolidation process based on the crucial $1.45 support level. Attempts to break through the $1.5050 resistance level are expected to continue for some time, which is likely to become a leading indicator for the overall rotation in the virtual asset market. The market is closely watching XRP's next breakthrough, backed by strong support.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*