XRP Whales Fuel Rally with $730M Inflow—Can Bulls Defend $2.50 Support?
The post XRP Whales Fuel Rally with $730M Inflow—Can Bulls Defend $2.50 Support? appeared on BitcoinEthereumNews.com.
The XRP market is experiencing a significant influx of investment, with large-scale investors, commonly referred to as “whales,” purchasing substantial amounts of the cryptocurrency. Over the past week, whale addresses have accumulated approximately 270 million XRP tokens, valued at around $730 million. This surge in buying activity reinforces bullish momentum and signals investor confidence in XRP’s price trajectory. Whale Accumulation Signals Optimism Blockchain analytics firm Santiment presents that whale accounts with 10 million to 100 million XRP have actively been accumulating these holdings. These high-net-worth investors accumulating at this specific time frame predict a sustained rally in the price. Traditionally, whale accumulations have shaped the price actions of XRP, tending to lead to important price spikes. Whales invest $730 million in XRP, sparking speculation on whether it’s headed for a surge or a drop. Source: Donahue George via X The renewed confidence in XRP follows a shift in investor sentiment. For the first time in thirty days, sentiment indicators have shifted into positive territory, reflecting a growing belief that the cryptocurrency is worth holding for the long term. This is creating greater buying pressure, which will continue to keep XRP’s bull run active in the next few weeks. XRP Eyes $3 Resistance Amid Bullish Trends At present, XRP is trading around $2.66, attempting to establish this level as a firm support. Should such support be in place, the token can probably use it as a foundation upon which to climb higher resistance zones. The trader is monitoring $2.95 closely as resistance; a breakout above this may propel XRP to $3.00, the next psychological level of resistance. The XRP price is expected to retest the $3.40 resistance following the current bullish trend. Source: XFRofWealth on TradingView Technical analysis indicates that XRP’s price movement is in the pattern of an ascending wedge…
Filed under: News - @ February 22, 2025 8:20 am