$130 million: Technical Analysis and Price Scenarios
In the past twenty-four hours, Bitcoin whales have accumulated over $130 million in XRP, a move that directly impacts its price and indicates growing confidence among major players in the market. The current price of the currency hovers around $3.19, after bouncing back from a strong support level at $2.96, which has been defended repeatedly.
This increase in accumulation activity reinforces the belief that recent declines are seen as strategic entry opportunities. Thus, the market has begun to sketch potential scenarios for the coming days, where price movement will depend on the strength of buyers and their ability to overcome significant technical resistance.
Technical Analysis: Key Support and Resistance Levels for XRP Price
On the daily chart, XRP maintains a sideways structure reflecting market indecision, with a range between $2.95 and $3.30, levels that act as immediate support and resistance.
A sustained breakout above the $3.30 level, accompanied by an increase in volume, would open the door for extension into the upper range between $3.50 and $3.65, where a large supply area halted previous momentum.
Conversely, losing the $2.95 support level would indicate weakness that could push the price to test $2.75, a level that coincides with the 61.8% Fibonacci retracement of the recent upward leg, and given its technical significance, it could attract new buyers interested in defending their positions.
The indicators complement this analysis. The daily relative strength index, which fluctuates between 46 and 52, shows that the asset is still in a neutral range, indicating room for upward movement before entering the overbought zone.
Meanwhile, the four-hour MACD indicator has begun to show a positive crossover, suggesting that buying pressure may be gaining strength.
Whale Impact and Short-Term Forecasts
The increase in trading volume in recent sessions, largely linked to institutional purchases, provides an incentive that bolsters the hypothesis of XRP price stability.
These strategic moves tend to define critical accumulation areas that herald future gains, provided buying pressure continues. If this trend persists, the asset's price may stabilize above $3.30, paving the way for a more positive scenario.
However, failure to maintain the $3.00 level would keep the possibility of further corrections alive, with caution remaining a key factor in technical monitoring.
The recent accumulation movement by whales places XRP at a point of interest for technical analysts, who are closely monitoring the development of its key levels.
"Whales bought the dip and collected over $130 million in XRP in the last 24 hours!" highlighted on-chain analyst Ali Martinez on X (formerly known as Twitter).
Staying above current support levels will be critical for the asset to build a new bullish path. In this context, the price of XRP will be influenced by the interaction between institutional buyers and the market's response to immediate resistance levels.
The next few days will be crucial in determining whether this momentum continues to strengthen or if bearish pressures will regain control.