- 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 a decisive breach. Moving averages maintained a bullish alignment, indicating long-term upward bias.
However, reduced volatility suggested that whales may be stabilizing prices, awaiting a catalyst for the next directional move.
Market drivers and potential retail implications
XRP’s price dynamics are influenced by institutional activity and recent legal clarity, particularly following its victory against the SEC.
Whale accumulation, evidenced by high OBV levels and subdued price volatility, suggests controlled supply. Macroeconomic factors, including market trends and regulatory updates, could catalyze the next move.
For retail investors, sustained consolidation near $2.20–$2.50 signals cautious sentiment, potentially deterring short-term traders.
The RSI neutrality implies limited immediate upside, while reduced volumes reflect lower retail participation.
Read XRP’s Price Prediction 2024–2025
A decisive breakout above $2.50 could reignite bullish momentum, but failure to hold support at $2.20 may trigger sell-offs.
Retail investors should monitor volume spikes and news events closely to anticipate potential volatility and align strategies accordingly.
