XRP Whales Increase Accumulation, Is a Recovery Happening?

XRP whales (those holding between 1 million to 10 million XRP) have increased their holdings by an additional 10% over the past two months, bringing their total XRP holdings to 5.81 billion XRP, equivalent to approximately 14 billion USD. Whales have purchased over 150 million XRP in just 48 hours.

The number of wallets holding between 10 million to 100 million XRP has stabilized at 301.

A combination of indicators suggests a growing optimistic sentiment about XRP's growth potential.

If XRP bounces from the upper boundary of the descending parallel channel, the price could retest the resistance level of 2.60 USD. If it breaks above 2.60 USD, the token could aim for the highest resistance level in the past seven years at 3.40 USD.