The post XRP Price Consolidates: What Momentum Indicators Reveal appeared on BitcoinEthereumNews.com.

XRP price has remained in consolidation over the past month, with a modest growth of just 2.2% in the last 30 days. Despite forming a golden cross earlier this month, signaling potential bullish momentum, whale activity suggests a lack of accumulation, which could weigh on further price gains. XRP’s Chaikin Money Flow (CMF) remains positive, highlighting ongoing buying pressure, but the indicator has slightly cooled from its recent peak. These factors suggest that XRP’s next moves will heavily depend on whether it breaks above its $2.53 resistance or succumbs to bearish pressures near its $2.33 support. XRP Whales Pause Accumulation The number of XRP whales holding between 10 million and 100 million XRP has dropped to 296, the lowest level since December 24. After peaking at 301 on December 25, the number of these large holders began a steady decline. This marks a significant shift in whale activity, as their numbers had previously reached a month-high of 305 on December 7, coinciding with XRP price exceeding $2.50. Wallets holding between 10 million and 100 million XRP. Source: Santiment. Tracking whale activity is crucial because these large holders can significantly influence the market. Their accumulation typically signals confidence in a coin and can drive prices higher, while a reduction in their numbers often indicates selling pressure or reduced interest. The recent decline in whale numbers suggests a bearish sentiment among major investors, which could weigh on XRP price in the short term. Unless whale activity stabilizes or reverses toward accumulation, XRP may struggle to regain upward momentum. XRP CMF Reached Its Highest Level in a Month XRP Chaikin Money Flow (CMF) is currently at 0.28, maintaining a positive position since January 1, when it was near 0. The CMF has shown an upward trend in the new year, signaling increasing capital…

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Filed under: News - @ January 4, 2025 6:15 pm