XRP is witnessing strong price volatility, with increasing activity from whales. On-chain data shows that hundreds of millions of XRP have been transferred, marking strong confidence from major investors, although demand from retail investors remains cautious. This article will analyze the current situation of XRP and the factors affecting the market.
XRP Whales Accumulate Up to 915 Million USD in One Week
In the past week, XRP whales have purchased over 420 million tokens, worth over 915 million USD, demonstrating strong investor confidence in this asset. However, the number of new wallets created has dropped to the lowest level in the past two months, indicating that while whales are accumulating, consumer interest has not yet surged.
Recently, XRP increased by 6% to 2.23 USD with over 108 million XRP traded in just one hour. This growth occurred due to strong buying pressure from whales. On-chain data clearly shows that whales have been actively moving XRP over the past two weeks, with Ripple transferring 200 million XRP (approximately 439 million USD) to an unidentified wallet on June 18, likely for strategic purposes or use by an organization.
Other large transactions also occurred on June 12, 15, and 19, with a total of over 80 million XRP (worth about 175 million USD) sent from unidentified wallets to Coinbase, which may indicate that whales are preparing to sell or take profits.
XRP Aiming for Breakout at 2.20 USD
Although XRP is still trading sideways, the number of transactions indicates that whales are quietly accumulating the asset. The number of wallets holding over 1 million XRP has also reached a record high of 2,850.
Recently, XRP also recorded a massive increase of 442.7% in the number of daily active addresses, reaching 181,000 in just 24 hours. This surge indicates that user interest and actual activity on the network are on the rise.
Currently, XRP is trading at 2.18 USD, up 3.6% in the past 24 hours. It has risen 2.7% in the past week and has recovered after dipping below 2.00 USD earlier in the week. The recent recovery and increased trading volume suggest that investors are returning to the market. However, for a clear breakout, XRP needs to hold above 2.20 USD. Otherwise, the price may revert to the support level of 2.05–2.10 USD.
The technical indicators mainly remain neutral with momentum and MACD showing slight bullish signals. Short-term EMA indicators are positive while long-term SMA indicators (50, 100, 200) are still showing some levels of resistance.
Source: https://tintucbitcoin.com/xrp-whale-am-tham-tich-tru-gia-se-tang/
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