- Wallets holding 100 million–1 billion XRP purchased 900 million tokens in two days while the price remained stable near $3.19.
- XRP chart printed an inverted hammer after a three-day drop from $3.38, with daily RSI holding above the neutral 50 mark.
- Key levels to watch include $3.38 and $3.66 for upside potential, while $2.81 aligns with the 50-day moving average support.
Large XRP holders have purchased around 900 million tokens in just two days, with the price sitting close to $3.15.
Heavy Buying from Large Wallets
Data shared by analyst Ali Martinez shows that wallets containing between 100 million and 1 billion XRP have added substantial amounts in a short span. This recent buying spree took place during a calm period for the market, where the price has been trading within a narrow range.
Such activity typically occurs when larger investors are sensing value at these price levels and are willing to add positions instead of waiting for the breakout. We are not seeing a pullback in the market, and accumulation has continued, while daily turnover remains high at greater than $8.39 billion traded in the last 24 hours.
Chart Signals Suggest Possible Turnaround
Analyst Joe Swanson noted that XRP’s chart printed an inverted hammer pattern following a three-day drop from $3.38. Traders also monitor such patterns, hoping that there can be a possible reversal, but this must be confirmed with subsequent sessions.
Swanson noted that the daily RSI remains above 50, indicating that bullish momentum has not completely dissipated. He noted that reclaiming $3.38 and eventually $3.66 could ultimately lead to $4, while a drop below $2.81, the 50-day moving average, may diminish that strength.
Current Price Movement
As of writing, XRP trades at $3.15, up 4.28% over the past week. The price has steadied after a brief decline earlier, a phase that saw increased whale buying rather than selling.
With large wallet holders continuing to add to positions and key price levels in play, attention remains on whether XRP will hold its support or attempt a breakout in the sessions ahead.
