A renewed interest from whales in XRP has been observed in recent days, which suggests long-term bullish expectations. However, the token is struggling to overcome key resistances, fueling speculation about its immediate future.
The accumulation of XRP whales: a long-term bet?
New data from analytics platform Santiment shows significant accumulation of XRP by whales, major market investors who hold between 1 and 10 million tokens. In just three days, the number of these addresses increased from 1,606 to 1,614. During this period, these whales acquired approximately 50 million XRP, worth an estimated $26.5 million. These operations take place in a context of stagnation in the prices of XRP, with the token oscillating between 0.54 and 0.56 dollars, resistance levels that the asset has not yet managed to cross. Despite this, the accumulation of whales seems to indicate optimism about a possible breakdown of this resistance in the medium or long term. “Whales continue to strengthen their positions, which could mean they are anticipating an upcoming rise,” indicate the Santiment experts.
However, this accumulation comes as XRP is experiencing a stagnant or even slightly bearish trend. Over the past few days, the asset has failed to rise above its 50-day ($0.56) and 200-day ($0.54) moving averages. This inability to cross these key technical thresholds could signal weakness in the short term, especially as Ripple's relative strength index (RSI) is dangerously close to the oversold zone with a value of 42. If this threshold is reached, this could increase the downward pressure on the price of the token, although whale optimism could counteract this trend.
Selling pressure and technical uncertainties
Despite the whale accumulation, other indicators suggest that the near-term horizon for XRP remains uncertain. According to data provided by CryptoQuant, a notable increase in XRP flows to exchanges has been observed in recent days. XRP inflows on exchanges have even doubled compared to outflows, suggesting that many smaller investors prefer to sell their assets rather than hold them. Such a situation, often associated with increased selling pressure, is a sign that confidence in an imminent rise in the price of XRP is not shared by all market participants. The market is sending mixed signals, with whales accumulating and retail investors appearing more cautious.
Furthermore, XRP's recurring failure to rise above its $0.54 and $0.56 resistance levels could reinforce the idea that the asset is stuck in a consolidation phase. Until these levels are breached, XRP could remain vulnerable to further bearish pressure, especially as the RSI index continues to deteriorate. One of the main questions is whether whale accumulation will be enough to offset this selling pressure and trigger a bullish breakout. If the current trend persists, XRP could face a larger correction before considering a true reversal.
XRP finds itself in a complex situation where whale accumulation signals long-term optimism, while technical indicators and trade flows signal short-term selling pressure. Closely monitoring whale movements and the evolution of technical indicators will be essential to anticipate future developments.
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