XRP has recently shown remarkable resilience, holding its position above a critical support level, although a significant price movement is still imminent. Key data from Santiment reveals that whales are actively accumulating XRP, having purchased over $228 million in the past few days.
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This aggressive accumulation suggests growing confidence among large holders as the market recovers toward higher prices. Analysts and investors are closely monitoring XRP, anticipating a breakout of key supply levels that could trigger a rally to new highs.
With bullish sentiment rising, the next few days will be crucial in determining XRPs price direction and its role in the ongoing market cycle. Will this whale activity lead to a major upward move or could XRP remain in its current range? Only time will tell, but expectations are high as momentum builds in the broader crypto market.
XRP Investors Expecting a Big Move
The crypto market has seen a significant surge, with Bitcoin and many altcoins posting double-digit percentage gains in recent days. The Federal Reserve’s decision to cut interest rates by 50 basis points triggered this rally, fueling optimism among investors who are now looking towards the potential start of a new crypto bull run. While investor sentiment towards XRP has turned positive, the market has yet to reflect this in the token’s valuation.
Leading analysts and market participants are sharing insights that suggest XRP may be gearing up for a strong performance this cycle. One prominent on-chain and technical analyst, Ali, highlighted wconvincing data from Santimentwhich shows that XRP whales are making substantial movements.
Over the past 10 days, these large holders have purchased over 380 million XRP, valued at approximately $228 million. This marks the highest level of whale accumulation since early August, a bullish sign for XRP. Accumulation of XRP by whales — often considered “smart money” — is a sign of strength and confidence in the token’s future price action.
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As the broader market continues to rally, investors are optimistic that this accumulation could be an early indicator of a major XRP rally in the coming days. With momentum building, many are positioning themselves for the next big move.
Price levels to watch
XRP is currently trading at $0.59 after several days of choppy prices, testing a supply level around that range. Although XRP remains above the 200 daily moving average (MA) at $0.549 — a sign of long-term strength — it has struggled to close above the $0.60 mark since late August.
For the bulls to trigger a move to new local highs, the price must reclaim the $0.60 level and hold above it. Doing so would set the stage for a challenge to a key liquidity zone around $0.65.
The $0.65 price has served as a significant resistance level that has been unbroken since early March. It is also considered a psychological barrier that, if breached, could push the price to higher levels quickly. Investors and analysts are closely monitoring this level, as breaking it would likely bring fresh bullish momentum.
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However, if the price fails to close above the current price level in the coming days, a pullback towards the 200 daily MA around $0.55 is expected. This would mark a critical test of support, and any breach below this level could signal further downside risk for the token.
Featured image of Dall-E, chart from TradingView