- Whales accumulate 1.08B XRP in single Asian session
- Large holder balances reach highest level since June 2024
- Technical indicators suggest continued bearish pressure
XRP’s market dynamics present an interesting paradox as whale addresses engage in significant accumulation while price action remains stubbornly range-bound.
The addition of 1.08 billion XRP tokens, valued at approximately $3 billion, by large holders represents a substantial vote of confidence in the asset’s long-term prospects.
Understanding XRP Whale Psychology
The surge in whale activity has pushed large holder balances to levels not seen since June 2024, with collective holdings now reaching 10.41 billion XRP.
XRP Supply Distribution. Source: TradingView
This accumulation comes against a backdrop of positive developments in the Ripple ecosystem, including strategic partnerships with Chainlink and promising political developments with the incoming administration. However, XRP’s price has shown surprising resilience to these typically bullish catalysts.
XRP Technical indicators paint a concerning picture for XRP’s near-term prospects. The Balance of Power reading of -0.04 suggests sellers maintain control of market momentum, while the negative Chaikin Money Flow (-0.09) indicates persistent capital outflows despite whale accumulation.
These technical signals create an interesting tension with the substantial institutional buying occurring behind the scenes.
The Fibonacci Retracement tool identifies critical support levels at $1.99 and $1.88, which could come into play if current bearish pressure persists. However, continued whale accumulation could drive XRP toward $2.45, particularly if broader market sentiment improves.
The resolution of this tension between institutional accumulation and technical weakness will likely determine XRP’s next major move.
