The price of XRP has moved resiliently over the past month. The coin tested the $1.60 support level after plummeting to a low of $1.6877 before posting a rebound.
It has since flipped that $2 mark and is gaining the attention of whales.
XRP Accumulated Amid Strengthening Support Levels
Ali Martinez, a renowned on-chain analyst, has highlighted how XRP whales have accumulated 900 million XRP over the last 30 days. At the current market price, this was worth over $1.8 billion.
Technical Indicators Tease Potential for Bullish Breakout
Meanwhile, other technical indicators of XRP hint at a likely price breakout. Notably, XRP’s Bollinger Bands squeeze suggests a bullish move is looming.
In January 2025, XRP’s 12-hour squeeze indicated periods of low volatility followed by a price uptick.
This supported the bullish rise in XRP’s value, which saw the coin trade above $3 for the first time in a long while.