XRP Whales Amass Billions, Price Fails to Break Out
In early Asian trading on Thursday, XRP large investors or whales accumulated 1.08 billion tokens, worth $3 billion at current market prices. This brings the whale community’s total XRP holdings to their highest level since June 2024.
Despite this, XRP’s price remains range-bound, reflecting a heavy bearish bias against it.
Developments within Ripple fail to spark XRP bull run
According to Santiment, Hold whale address Today, 100,000,000 to 1,000,000,000 XRP purchased a total of 1.08 billion tokens worth $3 billion. This brings the group’s total holdings to 10.41 billion XRP, the highest level since June 2024.
The surge in whale accumulation comes against the backdrop of positive developments in the Ripple ecosystem. These include Recent integrations and chain linkRipple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty’s Dinner with cryptocurrencies President-elect Donald Trump and Ripple President Monica Long recent interviews, In it, she confirmed that an XRP exchange-traded fund (ETF) might be coming soon.
However, despite this significant whale activity, XRP’s reaction remained muted, with its price trading sideways. Technical indicators evaluated on the four-hour chart confirm the bearish sentiment that continues to prevent the coin from breaking out to the upside.
First, its balance of power (BoP) is below 1 at -0.04 at press time. This indicator measures the strength of buyers and sellers by analyzing price movements over a specific period.
When its value is negative, it indicates that sellers dominate the market, indicating bearish sentiment and downward pressure on prices.
also, Negative Chaikin Flows for XRP (CMF) supports this bearish outlook. At the time of writing, the indicator, which tracks money flowing in and out of the asset, was -0.09.
When an asset’s CMF is negative, it indicates that selling pressure exceeds buying pressure, reflecting bearish momentum in the market.
XRP Price Prediction: Key Levels to Watch
According to XRP’s Fibonacci Retracement tool, if this bearish pressure builds, the altcoin’s price could test the $1.99 support. If the level cannot be maintainedthe price will fall further towards $1.88.
However, if whales continue to accumulate funds, driving a resurgence in XRP buying activity across the market, its price could rise to $2.45, invalidating this bearish prediction.
Disclaimer
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