XRP Whales Keep Loading Up Their Bags – 100 Million XRP Accumulation In 48 Hours
XRP is currently trading around $3.10 after a weekend of significant volatility and a lackluster market reaction to President Donald Trump’s Inauguration Day. Cryptocurrency investors have high hopes for the new U.S. president to emphasize pro-cryptocurrency policies in his opening speech. However, the lack of mention of the cryptocurrency sparked short-term selling pressure, causing XRP price to fall.
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Despite the initial disappointment, Santiment’s key on-chain indicators paint a more optimistic picture for XRP. Data shows that whales (large holders of XRP) purchased more than 100 million tokens in the past 48 hours. This significant accumulation shows that even amid temporary market uncertainty, large players remain confident in XRP’s long-term potential.
Whales’ buying spree comes at critical timeXRP tested key support near $3.10. With strong on-chain activity and institutional interest, the cryptocurrency appears to be laying the groundwork for a potential recovery. Investors are now keeping a close eye on signs of new momentum as markets digest recent events. While the short-term outlook remains cautious, XRP’s resilience and growing confidence from major players could set the stage for a rebound in the coming days.
XRP shows strength
XRP has broken through key levels, hitting a new all-time high last Thursday, hitting its highest price since January 2018. This milestone has reignited bullish sentiment among investors, with many believing that XRP will continue to rise despite continued market volatility. As one of the best-performing assets this cycle, XRP’s resilience and upward trajectory are attracting the attention of both retail and institutional investors.
The market remains optimistic about XRP’s short- and long-term prospects, driven by strong technical and fundamental signals. Renowned analyst Ari Martinez recently Highlight Santiment’s key datarevealing important whale activity.
Data shows that whales have accumulated more than 100 million XRP in the past 48 hours, indicating strong accumulation momentum. This heavy buying activity indicates that major players are preparing for further gains, reinforcing confidence in XRP’s continued growth potential.
Meanwhile, market participants are eagerly awaiting an announcement from President Donald Trump that could inject new optimism into the cryptocurrency space. With the final stages of the bull market underway, statements in support of cryptocurrencies could serve as a powerful catalyst to keep the broader market’s upward trend going.
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As XRP consolidates near new highs, its ability to maintain bullish momentum will be crucial. Investors are closely watching for signs of continued strength, with XRP expected to lead the market into new territory. If the bullish trend continues, XRP is well-positioned to outperform the ongoing crypto rally.
Price Action: Key Levels to Watch
After a period of heightened volatility and market uncertainty, XRP is currently trading at $3.09. Despite recent volatility, the cryptocurrency is still showing signs of strength as it prepares for its next move higher. A breakout of last year’s high of $2.90 was a critical moment for XRP, signaling renewed bullish momentum. After hitting a new all-time high (ATH) of $3.40, XRP successfully retested previous highs as support, which is a positive indicator for its short-term trajectory.
If the bulls can maintain control and hold above the $2.90 to $3.00 support zone, XRP looks set for a bullish bounce. This consolidation above key levels is setting the stage for further gains, while a decisive break above $3.40 ATH could lead to a major breakout.
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Market sentiment remains positive as XRP shows resilience and bullish technicals. Investors are keeping a close eye on price action, with many expecting prices to surge if key support levels hold. The potential for another rally puts XRP in the spotlight as it aims to continue leading the market higher. As the broader cryptocurrency market heats up, how XRP performs in the coming days will be crucial in determining whether it can maintain its bullish trajectory and reach new highs.
Featured images are from Dall-E and charts are from TradingView.
