XRP Whale Activity & Price Outlook

XRP experienced a prolonged downturn, falling below $2 and erasing earlier year gains. However, recent price recovery signals upward momentum, fueled by substantial whale accumulation and broader market shifts.

XRP Whale Accumulation

Over the past week, XRP whales (addresses holding 10 million to 100 million XRP) purchased over 510 million XRP, totaling over $1 billion. This increased their holdings to 7.38 billion XRP. This significant buy-in suggests confidence in XRP’s future.

While this whale activity is bullish, it's crucial to consider other factors. The Net Unrealized Profit/Loss (NUPL) metric recently dipped below 0.5, indicating a period of investor anxiety often preceding market corrections. This could cause short-term price volatility.

XRP Price Analysis and Future Outlook

At the time of writing, XRP trades at approximately $2.00, representing an 11.7% increase recently. While this is positive, the month-long downtrend still poses a challenge. The current price increase suggests potential for further growth, aiming for $2.14 and potentially $2.27 resistance levels. However, a worsening bearish outlook could see a drop to $1.94 support, or even lower to $1.70.

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