XRP maintains strong footing above critical $2.00 support level as broader crypto markets rebound from recent volatility.
Large-scale investors appear to be litecoin loginpositioning for further upside, with on-chain data revealing increased whale activity across XRP wallets.
Technical indicators including MACD crossover and improving RSI momentum paint constructive picture for near-term price action.
Declining derivatives open interest suggests some traders remain cautious despite the positive price movement.
Ripple's native token XRP continues to attract buyer interest, currently trading around $2.15 during European market hours. The digital asset successfully defended the psychologically important $2.00 level throughout the weekend, establishing it as new support. Market observers note the current technical setup could support further appreciation toward higher resistance zones at $2.75 and potentially $3.00.
Whale Accumulation Signals Growing Confidence in XRP
Recent on-chain metrics reveal notable accumulation patterns among large XRP holders. Blockchain analytics show wallets containing 1-10 million XRP now control 9.27% of circulating supply, while addresses holding 10-100 million tokens account for 11.61% of total availability. This gradual but consistent growth in whale holdings suggests institutional and high-net-worth investors may be establishing positions in anticipation of further upside.
The accumulation trend emerged alongside improving market sentiment following recent macroeconomic developments. While global markets initially reacted negatively to trade policy announcements, subsequent clarifications and exemptions appear to have stabilized risk appetite across asset classes including digital currencies.
Technical Structure Favors Continued Upside Potential
From a chart perspective, XRP currently trades between key technical levels. The 200-day exponential moving average at $1.95 provides underlying support, while a confluence of shorter-term moving averages around $2.25 presents immediate resistance. A bullish MACD crossover developing near oversold territory adds credence to the constructive outlook.
The Relative Strength Index, currently positioned at neutral 49.95 but showing upward trajectory, suggests room for additional momentum before reaching overbought conditions. Traders will monitor whether price action can sustain above the 50-day and 100-day EMAs to confirm continuation of the current uptrend.
However, derivatives market data introduces some cautionary notes. Open interest declined 2.75% to $3.29 billion, while trading volume dropped 40% to $9.99 billion over the past 24 hours. These metrics suggest some traders may be taking profits or waiting for clearer signals before establishing new positions. Recent liquidations totaled $13.86 million, with long positions accounting for $8.2 million of that figure.