XRP Price Holds Key Support as Whale Activity Signals Stability
XRP price has entered a consolidation phase over the past seven days after historic gains in November and December that reached its highest level in six years. Whale activity has stabilized, with the number of wallets holding 10 million to 100 million XRP rising to 301 from a one-month low of 292 on December 18.
Meanwhile, Chaikin Money Flow (CMF) has turned slightly negative at -0.07, reflecting mild selling pressure after briefly turning positive. With XRP hovering near key support levels, market indicators indicate a mixed short-term outlook, with both upside and downside.
XRP whales accumulate again
quantity Ripple Whales holding between 10 million and 100 million coins have stabilized at 301, up from 296 on December 24. This is a recovery following the one-month low of 292 coins on December 18, indicating that large holders are starting to accumulate again.
This stability suggests that whale activity may be pausing after a period of volatility, and these major players may be preparing for upcoming market developments.
Tracking whale activity is important because these large holders often influence price trends due to their trading volume. The recovery and stabilization of whale numbers may indicate major investor confidence. This may support Ripple price in the short term.
If whales continue to hold or accumulate, it could set the stage for bullish sentiment. At the same time, any reduction in holdings could signal caution or an imminent sell-off, affecting Ripple price.
XRP CMF turns negative after briefly turning positive
XRP’s Chaikin Money Flow (CMF) has dropped to -0.07 after reaching 0.02 yesterday. Prior to this, there was a notable peak of 0.26 on December 23, which coincided with a sharp price increase from $2.13 to $2.26 in just a few hours.
The change in the CMF highlights the changing levels of buying and selling pressure in the market over the past few days.
CMF measures the flow of money into and out of an asset, with positive values indicating buying pressure and negative values indicating selling pressure. Ripple The CMF is -0.07, indicating that selling pressure is slightly higher than buying pressure. In the short term, this could mean prices may face upward resistance unless buying activity intensifies.
However, the relatively mild negative value also means that selling pressure is not yet overwhelming. This could signal a period of consolidation rather than a sharp decline.
XRP Price Prediction: Will $2.13 Support Be Tested Again?
Ripple price The $2.13 support was recently tested and managed to hold, leading to a slight price rebound. While the coin is yet to enter a clear uptrend, further upward momentum could test the $2.33 resistance.
If the trend strengthens, Ripple Higher targets at $2.53 or even $2.64 are likely, which is a key level for a potential bullish continuation.
However, whale activity and Chaikin Money Flow (CMF) indicate a lack of clear market direction.
If support at $2.13 is tested again but fails to hold, Ripple It could drop to $1.96 or even $1.89.
Disclaimer
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