XRP Whales Keep Loading Up Their Bags 100 Million XRP Accumulation In 48 Hours
XRP is currently trading around the $3.10 level after a weekend marked by significant volatility and a lackluster market response to President Donald Trumps inauguration day. Hopes had been high among crypto investors that the new U.S. President would highlight pro-crypto policies in his opening speech. However, the absence of any mention of cryptocurrencies triggered short-term selling pressure, causing a dip in XRPs price.
Despite the initial disappointment, key on-chain metrics from Santiment paint a more optimistic picture for XRP. Data reveals that whaleslarge holders of XRPbought over 100 million tokens in the past 48 hours. This significant accumulation suggests that big players remain confident in XRPs long-term potential, even amid temporary market uncertainty.
The buying spree by whales comes at a crucial time, as XRP tests key support levels near $3.10. With strong on-chain activity and institutional interest, the cryptocurrency appears to be building a foundation for a potential recovery. Investors are now closely watching for signs of renewed momentum as the market digests recent events. While the short-term outlook remains cautious, XRPs resilience and the growing confidence of major players could set the stage for a rebound in the coming days.
XRP Showing Strength
XRP has broken through critical levels, reaching new all-time highs last Thursday, marking its highest price since January 2018. This milestone has reignited bullish sentiment among investors, with many confident that XRP will continue trending upward despite the markets ongoing volatility. As one of the top-performing assets in the current cycle, XRPs resilience and upward trajectory are capturing the attention of both retail and institutional investors.
The market remains optimistic about XRPs short-term and long-term prospects, fueled by strong technical and fundamental signals. Renowned analyst Ali Martinez recently highlighted key data from Santiment, revealing significant whale activity.
The data shows whales have accumulated over 100 million XRP in the past 48 hours, indicating strong ongoing accumulation. This substantial buying activity suggests that major players are preparing for further upside, reinforcing confidence in XRPs potential for sustained growth.
Meanwhile, market participants eagerly await an announcement from President Donald Trump that could inject renewed optimism into the crypto space. With the final phase of the bull run underway, a pro-crypto statement could serve as a powerful catalyst to keep the broader market trending upward.
As XRP consolidates near its new highs, its ability to maintain bullish momentum will be crucial. Investors are closely watching for signs of sustained strength, with the expectation that XRP will lead the market into new territory. If the bullish trends continue, XRP is well-positioned to remain a standout performer in the ongoing crypto rally.
Price Action: Key Levels To Watch
XRP is currently trading at $3.09, following a period of heightened volatility and market uncertainty. Despite recent fluctuations, the cryptocurrency is showing signs of strength as it prepares for its next move upward. Breaking last years high of $2.90 was a pivotal moment for XRP, signaling renewed bullish momentum. After reaching a new all-time high (ATH) of $3.40, XRP successfully retested the previous high as support, a positive indicator for its short-term trajectory.
If bulls can maintain control and hold above the $2.90-$3.00 support zone, XRP appears poised for a bullish rally. This consolidation above critical levels is building a strong foundation for further gains, and a decisive push above the $3.40 ATH could lead to a significant breakout.
Market sentiment remains optimistic as XRP demonstrates resilience and bullish technicals. Investors are closely monitoring the price action, with many expecting a surge if key support levels hold. The potential for another rally puts XRP in the spotlight, as it aims to continue leading the market upward. With the broader crypto market heating up, XRPs performance in the coming days will be crucial in determining whether it can sustain its bullish trajectory and reach new highs.
Featured image from Dall-E, chart from TradingView.
Text source: NewsBTC
