Foto: Alexandru Nika / Shutterstock
XRP has shown little conviction on the price chart this past week. The price has moved erratically, with brief rallies and quick pullbacks, hovering around its lowest point of the year. But beneath the surface, something is stirring: large investors, or ‘whales,’ are becoming active. These major players see an opportunity as the market appears quiet. The increasing whale activity could support sentiment and the price precisely as XRP tests crucial support zones.
XRP whales become active #
According to data from CryptoQuant, large XRP holders are currently notably active. Just as the price is under pressure, whales are responsible for a significant portion of the trading volume. This is often seen in phases where the market is trying to form a bottom. Instead of buying into rising prices, these parties prefer to accumulate when sentiment is still cautious and many investors are on the sidelines.
A key signal here is the Spot Taker Cumulative Volume Delta, which has recently flipped to the buy side, according to CryptoQuant data. This means that market orders are predominantly being placed by buyers, indicating growing demand. This is happening while the price has barely reacted, suggesting that accumulation is occurring without being immediately visible on the chart.
South Korea is also playing a role in the XRP story again. Exchanges in the country have traditionally had a strong connection to the token, and that seems to be reviving now. At Upbit, one of the largest trading platforms for XRP, a clear increase in withdrawals has been observed for the first time since 2023. Although the amounts are still relatively small, a broader trend is beginning to emerge where XRP is leaving the exchange. This is often seen as a sign that holders are moving their tokens to their own wallets and are therefore not looking to sell.
Analyst on XRP #
Yesterday afternoon, the price of XRP fell below the $2 level. It briefly recovered to $2, but this morning the coin dropped back to $1.99. Technically, XRP is balancing around a crucial point. Analyst CasiTrades points to the macro 0.5 Fibonacci support around $2.03. As long as the $1.97 level holds, she says there is no confirmed downtrend. If the support fails, a move towards $1.64 comes into view.
Conversely, if the price breaks upwards through the resistance around $2.41, higher targets are on the horizon. With a convincing breakout, she sees room towards $2.75 and even $2.90.