XRP Ready to Surge: Whales Accumulating, Is $3 in Sight?

Recently, XRP has stabilized above the support level of $2 and has been fluctuating in the range of $2.03 to $2.13. On-chain data indicates that large funds are continuously increasing their holdings, possibly gearing up for further price increases.

Whales Accelerating Positions

Data shows that since April, the number of addresses holding between 10 million to 100 million XRP has significantly increased, while the proportion of whales holding over 1 billion XRP has risen from 37.7% to 39.4%. Meanwhile, the XRP inventory on exchanges has drastically decreased, falling 10% within 30 days, which may alleviate selling pressure and create conditions for price increases.

Technical Indicators Point to $3

The daily chart for XRP has formed a 'bullish flag', and after breaking the upper resistance at $2.1, the target is set at $2.93, potentially even challenging the psychological barrier of $3. Currently, XRP is priced at $2.18, with a 24-hour increase of 2.68%. Some analysts believe that if it breaks through key resistance, it may open up larger upward potential, but there are also views suggesting a short-term pullback to the support level of $1.9.

With the market warming up, XRP, backed by its financial and technical advantages, may become a noteworthy asset in the near term.