- Whale accumulation of 150M XRP signals confidence and potential price stability.
- XRP must close above $2.69-$2.73 on the 4-hour chart to sustain bullish momentum.
- Large XRP withdrawals from exchanges suggest growing institutional interest and demand.
XRP has seen significant market activity, with large-scale transactions and increasing whale accumulation shaping its price movements.
Analysts note XRP following a structured pattern, and its price action aligns with predicted wave formations. Recent transfers from a major U.S. exchange to unknown wallets have drawn attention, sparking speculation on future price trends.
Analyst “Dark Defender” Predicts XRP Wave Formations
Dark Defender, a cryptocurrency analyst, suggests that XRP is moving in line with established technical patterns. Following Wave 2, XRP is expected to continue through the 3rd to 5th waves on the daily chart.
Key support levels are positioned at $2.4467 and $1.9996, while resistances are at $2.6052, $3.3999, $5.8563, and beyond $8. These levels provide insight into potential breakout points, indicating areas where the asset might see increased buying or selling pressure.
$2.73 Level Key for Sustained XRP Uptrend
EGRAG CRYPTO, another analyst, highlights the importance of XRP closing above the $2.69-$2.73 range on the 4-hour time frame. This level could determine whether XRP sustains a bullish momentum or faces further consolidation. A close above these levels would strengthen its uptrend, while failure to do so might introduce additional volatility.
Related: XRP ETF Race Kicks Into High Gear: Bullish Rebound Possible?
Whale Activity and Market Impact
The movement of large amounts of XRP from centralized exchanges to unknown wallets has raised interest among market participants.
Whale Alert reported a significant transfer of 20 million XRP, valued at approximately $50.66 million, from Gemini to an undisclosed address. This transaction contributed to the wallet’s holdings, now totaling around 43.73 million XRP worth $112 million.
Large withdrawals from exchanges are commonly interpreted as bullish signals, as major investors tend to acquire assets on platforms with high liquidity before moving them into private custody.
Whether this movement represents an internal transaction by Gemini or a significant investor’s purchase remains uncertain. However, such shifts can influence market sentiment, encouraging traders to adjust their positions.
Whale Accumulation Reaches 150 Million XRP in 48 Hours
Ali Martinez, a market analyst, reports that whales have purchased 150 million XRP over the last 48 hours. The accumulation pattern suggests that large holders, ranging from 10 million to 100 million XRP, are strategically increasing their positions despite market ups and downs. This continuous buying pressure may contribute to stronger support levels, reinforcing market stability.
Related: Whales Accumulate 60 Million XRP In What Might Be A Positive Signal
At press time, XRP is valued at $2.59, with a 24-hour trading volume of $4.49 billion. The cryptocurrency has seen a 6.98% price increase in the past week, despite a minor decline of 0.35% in the last 24 hours. With a circulating supply of 58 billion XRP, its market capitalization has reached $150 billion.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
