Large holders of XRP have added 1.34 billion tokens worth over $3.26 billion in the past week. The accumulation comes amid price volatility that has tested investor resolve.
These major investors, known as "whales," continued holding through Monday's 18% price crash. Their behavior suggests strong confidence in XRP's future performance despite market turbulence.
"This indicates that these large holders anticipate further gains," said market analytics firm Santiment. Data shows addresses holding between 100 million and 1 billion XRP made significant purchases recently.
Some analysts initially connected the accumulation to XRP's potential inclusion in the US Crypto Reserve. The evidence now points to opportunistic buying at reduced prices instead.
XRP currently trades at $2.45, maintaining position above the critical $2.33 support level. The asset posted a 37% increase following weekend volatility, suggesting momentum for continued growth.
Technical indicators show the price DAA Divergence flashing a buy signal. This metric tracks daily active addresses against price movement, often preceding trend reversals.
The altcoin failed to establish $2.70 as support on Sunday, preventing further upward movement. Analysts note that converting this level to support could help XRP challenge the $2.95 resistance barrier. Without breaking through $2.70, XRP may face consolidation above $2.33 based on previous price patterns. This scenario could delay any immediate rally until market conditions provide clearer direction.
Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.