The post XRP whales are accumulating fast – Hinting at a massive rally ahead? appeared on BitcoinEthereumNews.com.

Whale transactions over $1M signaled strategic accumulation, driving XRP’s bullish undertone. Price consolidated near $2.20–$2.50; a breakout could trigger bullish momentum XRP recently witnessed a significant uptick in whale transactions, with single trades exceeding $40 million. This aggressive accumulation coincides with a steady climb in price, suggesting that institutional and high-net-worth investors are eyeing Ripple’s native token for its next big breakout. As XRP inches closer to critical resistance levels, these movements fuel speculation about whether the token is primed for a rally or merely consolidating for the next phase of market activity. A surge in transactions beyond $1 million Recent data revealed a remarkable increase in XRP whale transactions, particularly those exceeding the $1 million mark. The chart underscored two key patterns: a consistent rise in large transactions and their correlation with price increases. Transactions worth over $1 million peaked alongside a price surge, highlighting the strategic role of whales in XRP’s market dynamics. Source: Santiment Interestingly, whale transactions worth have also surged, suggesting smaller institutional players are joining the fray. The synchronized activity between these tiers indicates a robust accumulation phase, with whales driving liquidity and stability during price rallies. Such behavior often signals confidence in long-term price potential, as large holders rarely execute impulsive trades, further solidifying XRP’s current bullish undertone. Price movement and technical overview Source: TradingView XRP was trading at $2.2851 at press time, reflecting a 1.48% intraday decline. The RSI at 55.17 indicated neutral momentum, suggesting neither overbought nor oversold conditions. The OBV was at 9.97B, showing sustained accumulation despite price consolidation. Volume trends highlighted weakening buy-side momentum as daily volumes taper off. The candlestick pattern signaled the potential for further consolidation below $2.50, with support near $2.20 acting as a critical zone. Breakout resistance remained at $2.50, a level tested multiple times without…

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Filed under: News - @ December 26, 2024 6:11 am