- Whales acquired over 280 million XRP in just ten days, indicating rising investor confidence despite recent short-term price decline.
- XRP surged past the $3.00 resistance, hit $3.65, then pulled back, retesting a breakout level now serving as vital market support.
- Market watchers closely eye the $3.00 level as traders position for a possible bullish continuation toward the $4.50 price target.
XRP price is testing a key support zone at $3.00 after a recent breakout, while whales have acquired over 280 million tokens in just ten days—a move that reflects strong investor interest during a crucial phase in XRP’s price action.
Over 280 Million XRP Accumulated Amid Price Dip
According to analyst Ali Charts, whales and major investors have purchased more than 280 million XRP within the last ten days. This accumulation, valued at over $280 million, indicates growing optimism around XRP’s price potential.
At the same time, the token’s price has declined. XRP was trading at $3.09 after falling 10.72% in the past 24 hours. It has also posted a 1.89% decrease over the last week. Despite this, trading volume remains elevated, with over $13.72 billion exchanged in the past 24 hours—suggesting strong participation during this pullback.
The simultaneous drop in price and rise in whale buying hints at strategic positioning from large holders expecting a continuation of the recent rally.
XRP Pulls Back After Surging Above Multi-Month Resistance
XRP recently broke out above a multi-month resistance level around $3.00, reaching as high as $3.65 before facing rejection. The price is now retracing, testing the breakout level that previously acted as strong resistance.
This type of retest often follows a breakout and serves to confirm the new support level. A successful hold here can lead to renewed bullish pressure. If buyers step in at $3.00, XRP may resume upward movement and potentially target the $4.50 level in the short term.
Nonetheless, a failure to maintain the $3.00 area may nullify the breakout and set the stage to a downside correction all the way down to the $1.93 level the next important cushion according to the earlier structure.
$3.00: The Level Everyone Is Watching
XRP is now at a critical decision point. The retest of $3.00 could determine whether the recent breakout holds or fails. Market participants are closely monitoring this level for confirmation of direction.
Although the short-term sentiment is more oriented towards caution, given the recent drop, whale accumulation on large scales gives more weight to the bullish argument, in case it manages to hold onto the $3.00 support.
The next sessions are going to be quite decisive for XRP, as the situation is going to be on the edge of rebound and further correction, based on the level of $3.00.
