Major XRP holders acquired 30 million tokens worth approximately $86 million during a 24-hour period while the cryptocurrency tested critical support at $2.71, according to blockchain analytics data. The accumulation occurred as XRP traded at $2.87, down 4% over the past week amid broader market uncertainty.
What to Know:
- Whale wallets holding 1-10 million XRP increased holdings by 30 million tokens during recent price decline
- XRP faces critical support test at $2.71 with potential upside targets of $3.60-$4.80 if level holds
- Market analysts remain divided on direction as technical indicators show both bullish breakout potential and bearish triangle pattern
Institutional Activity Surges During Market Consolidation
Ripple wallets containing between 1 million and 10 million coins expanded their collective holdings from 6.74 billion to 6.77 billion XRP tokens over the past day. Crypto analyst Ali Martinez documented the accumulation pattern, which coincided with XRP's retreat to $2.84 during the measurement period.
The buying activity represents a continuation of whale accumulation strategies during price pullbacks. Historical data suggests such institutional purchases often precede significant price movements in either direction.
Concurrent with the accumulation, whale addresses transferred approximately $812 million in XRP between unidentified wallets, according to Whale Alert monitoring services. Large-scale movements between anonymous addresses typically generate market speculation about potential institutional positioning or exchange preparations.
XRP currently trades at $2.87, reflecting modest daily losses but maintaining position above the crucial $2.71 support level that analysts consider pivotal for near-term direction.
Technical Analysis Points to Divergent Scenarios
Martinez identified $2.71 as the key threshold for continued upward momentum. "XRP holding above $2.71 could open the door for a move to $3.60," the analyst stated, noting repeated successful tests of this support zone.
Chart patterns show resistance levels positioned at $3.20 and $3.60, with the lower support having withstood multiple downward probes.
Sustained defense of the $2.71 floor could trigger attempts to challenge these overhead barriers.
Analyst Javon Marks maintains a more aggressive bullish stance based on longer-term technical formations. Marks views XRP's position above $2.47 as confirmation of a breakout from extended consolidation, projecting potential advancement toward $4.80. That target represents a 66% gain from current pricing levels.
The analysis extends further upside possibilities to $7.14 based on breakout momentum and elevated trading volumes during the initial rally phase. XRP has maintained sideways trading following earlier gains while holding above former resistance zones.
Market Dynamics Present Mixed Signals
Contrarian analyst Tom Tucker warned of emerging bearish formations despite the accumulation activity. "XRP has slipped under $3 and is flashing warning signs," Tucker observed, citing a descending triangle pattern that could pressure prices toward $2.07 if current support fails.
Tucker highlighted that 94% of circulating XRP supply currently shows unrealized profits, a condition that historically precedes selling pressure. Momentum indicators have begun deteriorating while distribution activity has increased among certain holder segments. The broader cryptocurrency market experienced significant volatility with liquidations exceeding $1.44 billion across more than 356,000 trading accounts. Such liquidation events often coincide with heightened whale activity as institutional players capitalize on retail investor exits.
XRP achieved a notable milestone with the debut of the REX-Osprey XRP ETF, which recorded $37.7 million in first-day trading volume. The launch represents the largest ETF debut of 2025 and signals growing institutional acceptance despite regulatory uncertainties.
Understanding Cryptocurrency Market Terminology
Whale activity refers to transactions or holdings by addresses containing substantial token quantities, typically defined as wallets holding between 1 million and 10 million XRP tokens. These entities possess sufficient holdings to influence market direction through coordinated buying or selling actions.
Support and resistance levels represent price points where buying or selling pressure historically concentrates. Support levels indicate floors where demand typically emerges, while resistance marks ceilings where selling pressure increases.
Triangle patterns in technical analysis suggest consolidation phases where price movements narrow between converging trend lines. Descending triangles, characterized by horizontal support and declining resistance, often resolve with downward breakouts if support fails.
Closing Thoughts
Whale accumulation of 30 million XRP tokens during recent price weakness suggests institutional confidence despite technical warning signs. The cryptocurrency's ability to maintain the $2.71 support level will likely determine whether bullish targets of $3.60-$4.80 materialize or bearish scenarios toward $2.07 develop.