- XRP whales accumulate 120M tokens during the recent price dip, signaling strong long-term investor confidence.
- Analysts eye a bullish breakout with targets at $3.33, $4.36, $5.85, and potentially $10.47.
- Major support levels stand at $3.00, $2.85, and $2.64, attracting potential buying interest.
Ripple’s XRP is seeing interesting market action despite a drop in its value. At the time of writing, XRP is trading at $3.07, down -0.47% in the last 24 hours. The daily trading volume is $10.65 billion, and its market capitalization stands at $181.25 billion.
Whales Boost XRP Holdings
Well-known crypto analyst Ali Martinez noted that whales took the latest drop as a buying opportunity, adding 120 million XRP over a short period. This strong buying appetite from large investors is a positive sign for the coin’s long-term future.
XRP Chart Hints at Bullish Breakout
At the same time, technical analyst Dark Defender pointed out that XRP has almost formed an ABC correction pattern, a technical configuration commonly indicating the end of a short-term correction. When this stage concludes, the analyst anticipates a bullish movement with targets at $3.33, $4.36, $5.85, and up to $10.47.
To the downside, major support levels have been found at $3.00, $2.85, and $2.64, levels at which buying interest may re-emerge should the price experience additional declines.
The coin sentiment remains positive but wary, as plenty of optimists are waiting to see if whale accumulation and chart patterns align to push the asset into its next growth phase. According to an analyst, “The XRP ship is sailing in the middle of the ocean, and the destination could be much higher than today’s price.”
Also Read | Ripple’s XRPL Emerges as Key Financial Infrastructure After 13 Years of Growth
XRP Derivatives Face Market Slowdown Amid Price Volatility
XRP’s derivatives segment recorded a steep deceleration, as trading volume fell 49.39% to $8.70B. The fall implies dampened speculation despite continued volatility in prices. The fall may indicate players are taking a step back due to indecision. Such steep movements usually precede stable market phases.
Open interest declined slightly by 0.81%, closing at $7.87B, signaling modestly lower market exposure. The slight pullback indicates fewer positions remaining, which could be due to investors looking for a clearer direction. Lower open interest and decreasing volume together indicate a conservative mood. Such environments tend to occur before broader market movements.
The OI-weighted funding rate remained at 0.0091%, indicating evenly split sentiment for long and short positions. Neither side is willing to pay a high cost to hold trades, keeping market pressure neutral. Rates can easily flip if momentum increases, and market analysts will be on the lookout for sudden sentiment reversals.
The coin derivatives, in general, are experiencing a cooling trend with less aggressive positioning. While price movements continue, participation levels have eased. This quiet period might come before a big price jump when confidence returns. Fund managers are likely watching funding rates closely.
Also Read | XRP Price Prediction 2025: $7.14 in Sight as Ripple Expands Globally
