XRP (XRP) Price Prediction & Analysis: Whale Feeding Frenzy Scoops Up $3.2 Billion

• XRP whales accumulated 1.34 billion XRP (worth $3.26 billion) in the past week despite an 18% price dip
• The Price DAA Divergence indicator shows a buy signal for XRP, suggesting investor resilience
• XRP is trading at $2.45, holding above $2.33 support, after a 37% increase
• South Korean technical adoption news helped XRP recover 11% to $2.17
• Market volume for XRP is down 19%, indicating investors might be holding their positions

XRP has seen major price movements in recent days. The crypto experienced an 18% crash on Monday but has since rebounded. As of today, XRP is trading at $2.45, showing signs of recovery in the market.

Large investors known as “whales” have been buying up XRP in huge amounts. Over the past week, whale addresses holding between 100 million and 1 billion XRP added 1.34 billion XRP to their holdings. This accumulation is worth over $3.26 billion.

These large holders appear to be buying at low prices. Despite the recent price crash, the whales did not sell their holdings. This suggests they have strong confidence in XRP’s future price growth.

XRP Price on CoinGeckoThe Price DAA Divergence, a market indicator, is currently showing a buy signal for XRP. This technical signal happens when an asset’s price movement differs from its daily active addresses. It often suggests a coming price change.

Investor behavior shows resilience despite tough market conditions. With more investors holding their XRP and fewer choosing to sell, the market sentiment seems to be turning positive. This holding pattern could support a longer price rally.

XRP has managed to stabilize above the $2.33 support level. After facing high volatility over the weekend, the cryptocurrency posted a 37% price increase. This move suggests XRP might have momentum for further gains if the current trend continues.

However, XRP failed to secure $2.70 as a support level on Sunday. This prevented the cryptocurrency from pushing to higher price levels. If XRP can break through and hold above $2.70, it could then target the $2.95 resistance level.

Failure to break $2.70 might result in consolidation above $2.33. This could delay any immediate upward movement. The market would then need more clarity before deciding its next direction.

Recovery signs emerged from South Korea recently. Technical adoption news from the region helped XRP recover to $2.17. This positive news came as welcome relief for investors who had seen falling prices.

Market volume for XRP has decreased by 19%. This lower volume might actually be a positive sign. It suggests investors are willing to wait and hold their positions rather than panic selling.

XRP Still Down from Highs

XRP is still down about 30% from its early February price levels. This drop has made some investors cautious about future price movements. Many are watching key resistance levels before making new investment decisions.

The cryptocurrency’s excess supply remains a concern for trading experts. The total supply of XRP is 100 billion coins, with about 46 billion currently in circulation. This large supply can affect price dynamics in the market.

Despite these concerns, whale accumulation suggests strong institutional confidence. When large holders buy in such volumes, it often indicates they see value at current price levels. Their buying power can also help support the price.

If buying pressure continues to increase, XRP could see a sustained rally. This would require support from both retail investors and whales to push through key resistance levels. Market conditions will play a crucial role in determining this outcome.

XRP now needs to establish $2 as a strong baseline for further growth. While recent price action looks promising, the cryptocurrency must maintain its momentum to convince cautious investors to return to the market.

The post XRP (XRP) Price Prediction & Analysis: Whale Feeding Frenzy Scoops Up $3.2 Billion appeared first on CoinCentral.