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XRP tests key support with elevated on-chain activity as whale selling threatens rally
Ripple (XRP) extends its correction, testing $1.40 support on Wednesday on the backdrop of last week’s rally from $1.00 to highs of $1.70. Despite the remittance token falling for two consecutive days, it upholds a constructive technical structure, raising the odds of another breakout attempt toward the pivotal $2.00 target.
Bitcoin is back – What’s driving the rally?
The crypto market’s recovery gathered pace this week, with Bitcoin briefly breaking above the psychologically important $80,000 level and reaching its highest price since mid-May as optimism returned to a sector that had spent much of the past ten months under pressure. The world’s largest cryptocurrency surged from below $63,000 earlier this month to a peak above $81,000, recording its strongest weekly gain in more than three years.
Bitcoin Price Forecast: BTC recovery stalls near $80,000 as ETF inflows mount, whale demand strengthens
Bitcoin (BTC) price is trading in the green on Wednesday, holding above $78,000 while struggling to extend its recovery above the $80,000 mark. Institutional demand is strengthening, with steady inflows and BlackRock’s tax-deferred Bitcoin-to-ETF swap volume reaching $5 billion. On-chain data points to rising BTC holdings by large-wallet investors, commonly referred to as whales, suggesting increased buying activity.
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