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XRP has been range-bound over the past few days, consolidating after managing to hold above the critical support level of $2.10. As one of the best performers in this cycle, XRP saw a sharp rise after the US elections, attracting the attention of investors. However, recent price action has introduced uncertainty, leaving some investors concerned about the possibility of further decline.
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Despite these fears, on-chain data suggests a different narrative. Information from Santiment reveals that whales have accumulated an additional 40 million XRP in the last 24 hours. This significant accumulation indicates that Smart Money could be positioning itself for an upcoming rally. Historically, such whale activity has preceded major price movements, providing a bullish signal to long-term holders.
XRP’s ability to hold the $2.10 support level despite market fluctuations demonstrates its resilience, but the next decisive move will depend on whether the bulls can take advantage of this accumulation phase. If the buying momentum continues and XRP breaks out of its current range, a push to new highs could follow.
XRP continues to signal strength
XRP continues to show resilience, trading above key support levels and attracting investors who recognize its long-term potential. Despite a significant 30% retracement from recent highs, XRP has held strong, maintaining critical support zones that reinforce the bullish outlook. This stability builds confidence among market participants, with many viewing the altcoin as a top contender for future growth.
Analyst Ali Martinez recently highlighted compelling data from Santiment, showing that whales added another 40 million XRP to their holdings in the last 24 hours. This follows a broader trend of consistent whale accumulation, a phenomenon often seen as an indicator of smart money positioning for a big market move. Such activity suggests that institutional and wealthy investors expect XRP to outperform in the coming months.
The sustained interest in XRP stems from its ability to remain strong despite recent corrections and broader market uncertainty. Sustaining above key support levels not only reflects technical strength, but also highlights investor confidence in its significant rally potential.
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As whale accumulation continues and sentiment shifts, XRP is well-positioned to capitalize on positive momentum. A break above resistance levels could mark the start of a powerful rally, strengthening its leadership among altcoins in the current cycle.
Technical analysis: key levels to watch
XRP is currently trading at $2.22 after successfully testing the 4-hour moving average (MA) and exponential moving average (EMA) around $1.96 a few days ago. This bounce off critical support levels highlights XRP’s near-term strength, further reinforcing its bullish momentum. The MA and EMA are widely considered key indicators for gauging the health of an asset, and XRP’s ability to hold above these values indicates strong demand at lower levels.
Maintaining support above $2.13 in the coming days is key to maintaining this momentum. If XRP continues to trade above this level, it would boost investor confidence and pave the way for a potential test of the $2.40 resistance bar. A move above $2.40 would likely trigger additional buying interest, potentially pushing XRP to new highs as overall market sentiment improves.
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On the other hand, loss of the $2.13 support could introduce some near-term weakness, leading to a retest of lower levels near the MA and EMA. However, as long as XRP maintains its overall structure above these moving averages, the bullish narrative remains intact and the altcoin could continue to attract smart money positioning for the next rally.
Featured image of Dall-E, chart by TradingView
