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XRP whales are accumulating fast – Hinting at a massive rally ahead?
Ripple’s native token, XRP, has seen a surge in whale transactions exceeding $1 million, fueling speculation about the possibility of a massive rally ahead. This recent uptick in large-scale purchases suggests that institutional and high-net-worth investors are eyeing Ripple’s token for its next big breakout.
Recent data from Santiment reveals an astonishing increase in XRP whale transactions, particularly those surpassing the $1 million mark. The chart illustrates two key patterns: a persistent rise in massive transactions and their correlation with price increases. Transactions above $1 million spiked alongside a price surge, highlighting the strategic role of whales in shaping XRP’s market dynamics.
Notably, even smaller institutional players are now joining the fray, as whale transactions worth over $1 million have also seen a significant surge. This synchronized activity between these tiers suggests a robust accumulation phase, with whales driving liquidity and stability during price rallies. As large holders rarely execute impulsive trades, this behavior further solidifies XRP’s current bullish undertone.
The token was trading at $2.2851 at the time of writing, having dropped 1.48% intraday. The Relative Strength Index (RSI) indicated a neutral momentum, neither overbought nor oversold. On the other hand, the OBV showed sustained accumulation despite price consolidation, hinting that whales are stabilizing prices and waiting for a catalyst to spark the next directional move.
The candlestick pattern pointed to potential further consolidation below $2.50, with support near $2.20 acting as a critical zone. The breakout resistance remains at $2.50, an obstacle that has been tested multiple times without a decisive breach. Meanwhile, moving averages maintained their bullish alignment, indicating long-term upward bias.
As XRP’s price dynamic is heavily influenced by institutional activity and recent legal clarity, particularly following its victory against the SEC, such accumulation could be signaling controlled supply. Regulatory updates or market trends could potentially act as the catalyst for the next significant move.
Retail investors are advised to approach the situation with caution, as sustained consolidation near $2.20-$2.50 may deter short-term traders and dampen their enthusiasm. The RSI neutrality implies limited immediate upside potential, while reduced volumes reflect lower retail participation.
Source: ambcrypto.com
