- XRP whales added 80M XRP since Dec 17, supporting recovery to $2.35 after Ripple’s $5M pledge to Trump’s inaugural fund.
- Whale activity drove XRP from $2.00 to $4.20 in November, with holdings reaching 5B XRP, suggesting strong market confidence.
- MACD bullish crossover and buying pressure near $2.30 support hint at potential gains, with $2.46 as the next resistance level.
According to analyst Ali, XRP whales have accumulated 80 million XRP since the recent price correction began on December 17. The buying coincides with XRP’s price volatility. As Ripple’s $5 million XRP pledge to President-elect Trump’s inaugural fund came to light, the cryptocurrency’s price climbed 4.73% to $2.35 within the past 24 hours.
XRP Price Rallies and Whale Accumulation
From November 20 to December 1, XRP saw a sharp rise, climbing from $2.00 to a peak of $4.20. This upward trend was aided by whale activity, as large holders with balances between 1,000,000 and 10,000,000 XRP steadily increased their holdings to 5 billion XRP during this period.
Following the rally, the price stabilized above $4.00 but saw selling pressure after December 15, falling to $2.30. Despite the correction, whales resumed buying, showing confidence in XRP’s value.
Recently, whale purchases have aligned with XRP’s recovery above $2.30, as accumulation strengthens support near this level. However, substantial transfers, including a 99,999,977 XRP transaction worth $222 million on December 20, indicate active trading by large investors.
Technical Indicators
On December 21, XRP traded at $2.35, a recovery from recent lows near $2.10. Bollinger Bands and MACD, suggest potential bullish momentum. XRP’s price traded near the midline of the bands at $2.2758, with the upper band at $2.4605 acting as resistance.
The MACD shows a bullish crossover, with the line crossing above the signal line, supported by increasing volume. High buying pressure near support levels hints at the possibility of further price gains.
XRP Capital Movements
Netflows provide views into capital movements, showing outflows from February to November as XRP ranged between $0.50 and $0.75. Mid-November experienced sharp inflows exceeding $100 million, coinciding with a rally above $2.50. Recently, outflows dominated, suggesting accumulation as whales capitalized on lower prices.
Ripple’s contribution to President-elect Trump’s inaugural fund may be a factor that has pushed XRP’s price up in the past day. With the price stabilizing above $2.30, monitoring whale activity and broader market sentiment is crucial.
