- Whale accumulation contrasts with retail selling, creating price stagnation.
- A breakout above $3.09 could end XRP’s bearish structure and trigger gains
XRP has not performed as well as the broader crypto industry, increasing by only 3.1 percent, while others have seen significant gains. It has been unable to clear the higher resistance, despite hovering near the $3 level. Two forces that have been identified to contribute to this stagnation include the presence of persistent retail selling and large-holder accumulation.
Whales Add 1.9 Billion XRP to their Mailing List as Retailer Leaves.
According to blockchain analytics, wallets holding between 100 million and 1 billion XRP have increased their holdings by 8.95 billion to 9.59 billion tokens since the end of September, representing a 7.1% increase. That is almost 1.9 billion purchases at present. These whales have been propping XRP quietly on the floor, avoiding more critical losses against low demand.
However, the exchange information indicates the contrary among the minor investors. The net change in position between the exchanges, as tokens entered the trading venues, increased by 31 percent, from 197 million XRP on September 29 to 259 million on October 6. Increased inflows typically indicate selling pressure as traders are ready to exit their positions.
Such a deviation has successfully placed XRP in a stalemate. Institutional build-up alleviates price drops, yet uniform retail outflows ensure that momentum is limited. The market will not be able to generate enough buying power to sustain a rally until retail sentiment changes.
The Breakout of XRP will rely on a daily close of over 3.09.
In technical charts, XRP remains in a decreasing channel that has restricted upward trends since October 2. The top limit of this pattern is at the level of $3.09. A daily close beyond that level would indicate a structural breakout, and targets would be projected at $3.33 and $3.58.
On the other hand, a price below 2.94 could prolong the bearish formation and drag XRP to a lower cost of 2.88 before any recovery. The players in the market are now keen to see whether they will witness a bullish move above $3.09— the boundary between long-term consolidation of XRP and the next possible surge.
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