In a bold move, XRP whales have purchased a staggering 60 million tokens within just 24 hours, capitalizing on a recent price dip. This surge in accumulation highlights growing confidence in XRP’s long-term potential. Here’s what you need to know.
XRP Whales Make Their Move
Major holders, often called “whales,” have aggressively bought 60 million XRP tokens amid a market correction. Analysts like Ali Martinez point to this as a sign of strong belief in XRP’s value. Key details:
- Wallets holding 10M–100M XRP led the buying spree.
- XRP price dipped to $3.09 after a 14% drop from mid-July highs.
- Whale-to-exchange transfers dropped by 90%, signaling reduced sell pressure.
XRP Price Analysis: Support and Resistance Levels
Despite the dip, XRP holds above the critical $3.00 support level. Technical indicators suggest:
| Indicator | Status |
|---|---|
| 20-day EMA | Strong support |
| MACD | Bearish momentum |
| Resistance | $3.30–$3.35 |
A breakout above $3.35 could propel XRP toward $4 or even $5.90.
Broader Crypto Market Trends
Macro factors are also influencing XRP’s trajectory:
- U.S.-EU trade deal boosts risk-on sentiment.
- Two major crypto bills (Clarity Act, Genius Act) gain traction.
- Institutional investors place $25M in long positions.
Legal Wins and Future Prospects
A 2024 court ruling suggested XRP may not be classified as a security, boosting its legitimacy. Upcoming developments like Coinbase’s nano perpetual futures could further enhance liquidity.
Conclusion: Is XRP Poised for a Breakout?
With whales accumulating, strong support levels, and favorable macro trends, XRP could be gearing up for a significant rally. Keep an eye on the $3.30 resistance for clues.
FAQs
Q: Why are XRP whales buying now?
A: Whales are capitalizing on the price dip, betting on long-term growth.
Q: What’s the next key resistance for XRP?
A: $3.30–$3.35 is the immediate resistance; a breakout could target $4.
Q: How did the 2024 court ruling impact XRP?
A: It clarified XRP’s non-security status for retail investors, boosting confidence.
Q: What macro factors support XRP’s rise?
A: Positive trade news, crypto legislation, and institutional interest are key drivers.
