XRP Price Prediction as $900 Million Trading Volume Comes In – Are Whales Buying Before the Ripple Lawsuit Conclusion?

cryptonews.com:

The XRP price has increased by 2.5% in the past 24 hours, rising to $0.375464 amid a 5% gain for the cryptocurrency market as a whole.

Its current price equals a 0.5% gain in the past week, although the altcoin is also down by 2% in the past month, while it's up by 10% since the beginning of 2023.

While XRP has underperformed over the past week relative to the rest of the market, this puts it in an undervalued position where it can post above-average gains in the coming months.

Indeed, with Ripple expecting an end to its case with the SEC later in the year, XRP could be in for a very big rally in the not-too-distant future.

And it seems that whales are possibly preparing for such an eventuality, with data suggesting massive transfers of XRP from some of the market's largest traders and with the coin's 24-hour trading volume now topping $900 million.

XRP's indicators suggest that the coin is ripe for a rally, given that it remains in a largely oversold position.

Its 30-day moving average (red) has fallen substantially below its 200-day average (blue), meaning a movement upwards is due sooner or later.

Similarly, the coin's relative strength index (purple) has been largely depressed since the middle of February, indicating that it should gain some momentum in the near future.

At the moment, XRP's main resistance level is somewhere around $0.38, so if it can break through this price, bigger gains could be on the cards.

It's arguable that this is what larger investors are waiting for right now, with Whale Alert highlighting some very large transfers of XRP in the past few days.

This includes a couple of large transfers (worth $11.3 million and $18.8 million) of the Mexico-based Bitso exchange, suggesting that at least some XRP whales