After weeks of slow action, B2BINPAY analysts suggest that the XRP price has the potential for a major breakout.
XRP (XRP) price has been relatively steady over the past few months. However, according to insights from analysts at crypto payments platform B2BINPAY, shared with crypto.news on Friday, June 27, the token is poised for a breakout.
B2BINPAY analysts highlighted an increase in whale holdings, with large XRP holders adding 50 million XRP this month. At the same time, centralized exchanges saw outflows of a similar amount. Both whale accumulation and exchange outflows suggest a bullish outlook for the token.
Despite this, the token has not seen major upward price movement. Instead, XRP has traded within a narrow range for almost two months. Still, this stability may be masking the potential bullish momentum building under the surface.
“We think XRP is now entering a pressure zone — calm on the surface but “coiled” underneath. After trading sideways between $2.00 and $2.30 for nearly two months, the price now sits below $2.20, right under a cluster of major moving averages ($2.21-$2.23).That’s a typical sign of the market gearing up for a bigger move,” B2BINPAY.
Additionally, B2BINPAY analysts point out that the RSI and MACD are neutral. This suggests that the token is not overbought, lending more credence to the bullish case.
Altcoins like XRP are weighed down by macro pressure
The most likely reason for XRP’s relatively slow performance is the macro pressure on all altcoins. Interest rates remain high, which weighs on risk assets like crypto. At the same time, traders still don’t expect rate cuts to arrive anytime soon.
Still, a potential macro catalyst, or some other development, could propel XRP much higher. B2BINPAY analysts believe that if the token breaks and holds above $2.30, there is a clear path toward $2.70, and possibly even $3.40.
