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$XRP market is buzzing with renewed optimism as on-chain data reveals significant whale activity, hinting at a potential price surge! Major XRP holders have recently moved nearly $998.1 million worth of tokens, with exchange outflows plummeting by over 93% since early July. This suggests a strong shift from selling to strategic accumulation.
What's Happening?
Blockchain insights show coordinated whale movements, including two identical transfers of 153.2 million $XRP each, followed by a 9.2 million $XRP move to Coinbase. These are some of the largest transfers this month and signal that big players are repositioning for a potential rally.
📊 Whale Holdings Hit 14% of Supply!
Wallets holding between 10 million and 100 million $XRP have collectively added over 130 million tokens in a single day. These high-net-worth addresses now control a historic 8.31 billion $XRP, representing a whopping 14% of the circulating supply. This concentration, combined with reduced sell pressure, could lead to a significant supply squeeze.
Technical Levels to Watch:
Xrp is currently consolidating around $3.16, with eyes firmly on the $3.35–$3.40 resistance zone. A decisive break above this area could unlock:
* First Target: $3.62
* Extension Level: $3.83
* Momentum Target: $4.00+
Adding to the bullish sentiment, an XRP whale recently opened a massive $11.44 million long position at $3.2979, signaling strong institutional confidence.
⚖️ Catalysts on the Horizon?
Beyond technicals, broader developments could be fueling these whale moves, including:
* Potential resolution in Ripple's legal standing with the SEC.
* Whispers of an XRP spot ETF.
* Strategic announcements from Ripple and its partners.
Conclusion:
The market is at a critical point for $XRP. With diminishing sell pressure and intensified whale accumulation, the coming days could be pivotal. Keep a close eye on these movements – will the quiet actions of whales lead to a loud market reaction?
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