The recent Upbit listing spurred a 14% surge in IP token’s price, with technical momentum indicated by EMA crossovers amid looming risks of whale sell-offs.
IP token surged 14% over the past 24 hours, trading at $6.76 after its Upbit listing and an over 800% increase in volume. The asset broke above a resistance zone of $6.20–$6.30 and is trading above both EMA 7 and EMA 20, with a bullish crossover signaling momentum. Since bottoming at $2.44 on June 19, the token has gained 173%, aided by significant whale purchases and institutional interest following the launch of the Grayscale Story Trust. However, trading remains about 8% below the previous ATH of $7.33, raising concerns over potential whale-driven sell-offs.