- XRP whales accumulate 340M tokens, signaling confidence in a potential price surge.
- Resistance at $3.10–$3.20 remains critical, with a breakout likely to fuel bullish momentum.
- Technical indicators show consolidation, as RSI and MACD suggest steady but cautious market activity.
XRP is gaining market traction as whales continue to accumulate, showing confidence in its short-term prospects. Bulls note the asset is testing key support and resistance levels, where a breakout could fuel gains or a breakdown could trigger selling.
At the time of writing, XRP is trading at $2.83, supported by a 24-hour trading volume of $4.84 billion and a market capitalization of $168.83 billion. XRP has seen a modest 0.9% gain over the past day, signaling steady activity in the market.
XRP Whales Buy 340 Million Tokens
A popular crypto analyst, Ali Martinez, highlighted that whales purchased 340 million XRP in the last two weeks. This massive buying suggests growing faith in the asset’s potential to put up another surge.
XRP Faces Strong Resistance as Support Levels Tested
On the technical side, crypto analyst BitGuru noted that XRP is trading near $2.83 after a decline triggered by a head and shoulders pattern. Analysts highlight that the token faces key support around $2.70, while strong resistance remains between $3.10 and $3.20.
A break above the $3.10 ceiling can catalyze strong momentum, potentially leading to a rise in valuation. If, however, the stock fails to maintain the support level around $2.70, short-term pressure may follow.
As both technical activity and whale movement are aligned, XRP is now at a decisive position. Analysts will closely watch to see if the token can break through the barrier to maintain the upward trend.
Also Read | Ripple CEO Joins Fed Talks as Cardano Eyes XRP Wallet Integration
XRP Momentum Pauses as Market Consolidates
The RSI on XRP is 55.33, while the current Moving Average is 57.37. This places the market in a neutral zone, neither strongly overbought nor oversold. The slowing RSI reflects weak buying pressure, but staying above 50 indicates underlying support.
The MACD line is at 0.26502, while the signal line is at 0.24074, which leaves the histogram at 0.02428. This positive gap indicates that momentum is in favor of the bulls. However, a narrowing gap is characteristic of consolidation.
Also Read | XRP Weekly Outlook: Support Strong at $2.67, Breakout Levels in Focus
