XRP Whales Return – 880 Million Tokens Gathered This Month

Reasons to Have Confidence

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XRP is currently trading above the $2.35 threshold, gaining momentum as bulls strive to breach significant resistance toward an all-time high. This movement aligns with a broader bullish trend in the cryptocurrency market, highlighted by Bitcoin’s surge past $100K and Ethereum reclaiming the $2,200 zone in a vigorous rally. XRP, often perceived as lagging behind major assets, is now demonstrating considerable strength relative to other altcoins.

XRP Gains Traction as Whales Accumulate and Momentum Grows

XRP has emerged as one of the most resilient assets within the cryptocurrency landscape, showing significant strength amidst recent uptrends and offering consistent support during broader market retreats. Now trading above the $2.00 mark, XRP finds itself at a crucial juncture where bullish and bearish forces are in contention.

The overall market is also becoming increasingly active, with Bitcoin surpassing $100K and Ethereum maintaining the $2,200 zone following a breakout. However, it is XRP’s relative strength that has captured the interest of analysts and traders alike. Leading analyst Ali Martinez highlights that on-chain data reflects a significant accumulation of over 880 million XRP tokens by whales in the past month. Such accumulation generally serves as a bullish indicator, suggesting that large stakeholders are preparing for a possible rally.

XRP Whales accumulated over 880 million XRP in the past month

Nonetheless, macroeconomic uncertainties persist in the backdrop. With ongoing trade challenges between the US and China and a more sensitive global financial climate, investor confidence remains delicately poised. If Bitcoin maintains its current levels and altcoin momentum continues, XRP could be among the primary beneficiaries.

As XRP stays in a critical trading range, the upcoming days will be crucial in defining its next movement. A solid breakthrough above $2.35 may pave the way for a robust upward expansion, while holding support above $2.00 will be vital to avert a decline. Supported by whale engagements and increasing trader interest, XRP is once again positioned as a potential frontrunner in the forthcoming stages of the crypto bull market.

Price Testing Breakout Zone While Surpassing Resistance

XRP is demonstrating encouraging momentum after exceeding the $2.35 level and is now priced at $2.36, indicating a resurgence in bullish activity. This progression occurs as XRP approaches the upper boundary of a consolidation pattern established since late March. The price trend is supported by a continuous uptrend characterized by higher lows, now confronting long-established resistance. Furthermore, the 200-day SMA ($2.10) and EMA ($2.00) are positioned below the current price, emphasizing the vigor of the ongoing trend.

XRP testing supply levels

Trading volume has significantly surged over the last few sessions, indicating that buyers are entering the market with assurance. A decisive daily close above $2.38 to $2.40 would solidify a breakout and could set the stage to retest previous highs around $3.00 and possibly establish new all-time highs. Conversely, a failure to achieve this may result in another test of the rising trendline near $2.15.