XRP Surges 4% on Billion-Dollar Whale Accumulation and Technical Strength
- Whale Accumulation Injects $415 Million Into XRP
- XRP technical indicators point to continued growth
- Demand for XRP grows in South Korea
The XRP token has seen a 4% gain in the last 24 hours, supported by a combination of intense whale activity and positive technical signals. The move comes despite market caution following the recent $200 million sell-off attributed to Ripple co-founder Chris Larsen.
Despite initial pressure, large investors absorbed the supply and reinforced confidence in the asset. On-chain data indicates that 2.743 wallets now hold more than 1 million XRP each, totaling 47,32 billion units out of active circulation. This liquidity blockage helped stabilize the price and contain short-term volatility.
The volume accumulated by so-called “whales” surpassed US$415 million in just one day, signaling a more optimistic long-term view regarding XRP, especially given the perception of easing regulatory tensions in the United States.
Technically, XRP remains above the $3,10 support level. Even after being rejected at the Fibonacci resistance level at $3,28, the token maintains a solid position. The relative strength index (RSI) is at 60,39, suggesting a moderate uptrend, while the MACD is about to confirm a bullish crossover.
Analysts also observe the possibility of a "golden cross" between the 9-day and 26-day moving averages, a configuration that historically anticipates sharper upward movements. If this pattern is confirmed, XRP could target levels around $3,34 and higher.
In addition to technical and institutional positioning, demand from retail investors, especially in South Korea, contributes to the short-term momentum. Growing interest in the Asian country bolsters the asset's liquidity in secondary markets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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