XRP Whales Keep Buying – Data Reveals Smart Money Prepares For A Rally
24 Diciembre 2024 - 1:00PM
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XRP has been range-bound in recent days, consolidating after
successfully holding strong above the critical $2.10 support level.
As one of the standout performers this cycle, XRP experienced a
massive surge following the US election, capturing investor
attention. However, recent price action has introduced uncertainty,
leaving some investors concerned about the possibility of further
downside. Related Reading: Solana Holds Weekly Support At $180 –
Analyst Expects $330 Mid-Term Despite these fears, on-chain data
suggests a different narrative. Insights from Santiment reveal that
whales have accumulated another 40 million XRP in the past 24
hours. This significant accumulation indicates that Smart Money may
be positioning itself for an upcoming rally. Historically, such
whale activity has preceded major price movements, providing a
bullish signal for long-term holders. XRP’s ability to maintain the
$2.10 support level amid market fluctuations demonstrates
resilience, but the next decisive move will depend on whether bulls
can capitalize on this accumulation phase. If buying momentum
continues and XRP breaks out of its current range, a push toward
new highs could follow. XRP Continues To Signal Strength XRP
continues to display resilience, trading above key support levels
and attracting investors who recognize its long-term potential.
Despite a significant 30% retrace from recent highs, XRP has held
its ground, maintaining critical support zones that bolster a
bullish outlook. This stability is driving confidence among market
participants, with many seeing the altcoin as a top contender for
future growth. Top analyst Ali Martinez recently highlighted
compelling data from Santiment, showing that whales added another
40 million XRP to their holdings in the last 24 hours. This follows
a broader trend of consistent whale accumulation, a phenomenon
often regarded as an indicator of smart money positioning for a
significant market move. Such activity suggests that institutional
and high-net-worth investors expect XRP to outperform in the coming
months. The sustained interest in XRP stems from its ability to
remain strong despite recent corrections and broader market
uncertainty. Holding above key support levels not only reflects
technical strength but also underscores investor confidence in its
potential for a significant rally. Related Reading: If History
Repeats Dogecoin Has Potential For A Parabolic Rally – Details As
whale accumulation continues and sentiment shifts, XRP is
well-positioned to capitalize on positive momentum. A breakout
above resistance levels could mark the beginning of a powerful
rally, reinforcing its leadership among altcoins in the current
cycle. Technical Analysis: Key Levels To Watch XRP is currently
trading at $2.22 after successfully testing the 4-hour moving
average (MA) and exponential moving average (EMA) around $1.96 a
few days ago. This bounce off critical support levels highlights
XRP’s short-term strength, reinforcing its bullish momentum. The MA
and EMA are widely regarded as key indicators for assessing the
health of an asset, and XRP’s ability to hold above them signals
strong demand at lower levels. Maintaining support above $2.13 in
the coming days is essential to sustain this momentum. If XRP
continues to trade above this level, it would solidify investor
confidence and pave the way for a potential test of the $2.40
resistance mark. Breaking above $2.40 would likely trigger
additional buying interest, potentially driving XRP toward new
highs as the broader market sentiment improves. Related Reading:
Ethereum Whales Bought $1 Billion ETH In The Past 96 Hours –
Details On the flip side, losing the $2.13 support could introduce
some short-term weakness, leading to a retest of lower levels near
the MA and EMA. However, as long as XRP maintains its overall
structure above these moving averages, the bullish narrative
remains intact, and the altcoin could continue to attract smart
money positioning for the next rally. Featured image from Dall-E,
chart from TradingView
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