XRP has recently fluctuated in prices and has dropped slightly over the last few days. However, cryptocurrencies remain near significant resistance levels, and despite signs of potential market top, whales are actively accumulating XRP.
The current market conditions could pose challenges for further profits, but the prospect of an all-time high (ATH) rise remains strong.
XRP investors remain bullish
XRP is currently facing a potential market leader, with over 95% of its distribution supply making profits. Historically, when such a large portion of supply is profitable, the top of the market often forms and usually shows a reversal.
However, XRP has proven resilient in the face of past market leaders, maintaining upward momentum without experiencing a significant decline. This unique feature of XRP suggests that it may ignore typical market behavior, and investor bullish sentiment could further increase prices.
The macro momentum in XRP is driven by increased whale activity. Over the past four days, addresses holding 100 million to 1 billion XRP have accumulated over 12 billion XRP, worth nearly $3.8 billion.
This surge in whale holdings suggests that large investors are confident in XRP’s future potential and position themselves for further profits. The recent price decline likely has caused FOMO (missed fear), encouraging these whales to increase their positions in anticipation of future price surges.
This optimism could be a major catalyst in increasing XRP prices as these large holders could provide great support during volatility times.
XRP Prices transmit mixed signals
XRP is currently trading at $3.13, a slight decline in the last four days. Altcoin is 16.8% below the $3.66 ATH targeted by investors. Continuous bullish sentiment, coupled with whales accumulation, maintains prices within the range of potential breakouts.
If the whale effort is successful, the XRP price could rise to $3.41. If the $3.41 level is reversed to support, the XRP can continue to rise towards the $3.66 ATH. This scenario shows sustained bullish momentum, with strong support from both large holders and retail investors. The $3.41 support level plays a key role in maintaining XRP price growth.
However, if XRP is facing bearish cues from a wider market, or selling pressure from retail investors, the price could fall below $2.95. This negates bullish papers and raises concerns about upward sustainability.
The $3.8 billion accumulation of Post XRP whales could raise the price that first appeared on Beincrypto to an all-time high.
