Analysts Say XRP Could Hit $12 as Binance Supply Shrinks
The post Analysts Say XRP Could Hit $12 as Binance Supply Shrinks appeared on BitcoinEthereumNews.com. XRP holds above $1.11 as analysts point to multiple bullish technical signals despite recent market weakness. Binance’s XRP supply continues to shrink, reducing exchange liquidity and potentially easing future selling pressure. Analysts see an XRP/BTC breakout and a 13-year RSI low as signs XRP could be nearing a major rally. XRP is trying to stabilize after the recent sell-off. It is holding above the $1.11 support level but continues to struggle below the $1.15 resistance zone. Several analysts believe multiple technical indicators are beginning to align. They argue that XRP could be setting up for a larger move if buyers regain control. Binance XRP Supply Keeps Falling In a tweet, market watcher Xaif pointed to a bullish signal for XRP, stating that XRP scarcity on Binance has reached its highest level since mid-2024. Xaif noted that previous sharp declines in Binance’s XRP supply