XRP Price Eye $2 Rebound as On-Chain Data Signals Massive Whale Accumulation

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Coingapestaff

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XRP Price Eye $2 Rebound as On-Chain Data Signals Massive Whale Accumulation

Highlights

  • Whale accumulation signals strong institutional confidence in XRP.
  • Technical indicators favour a possible breakout at the resistance of $1.50.
  • Wider crypto rally is a positive indicator on XRP bullish trends.

XRP price stabilized above $1.46 after bouncing from its weekly support level at $1.30 during recent volatility. The rebound came after a short dip, which tested the low-demand areas before buyers started controlling the momentum again.

The Ripple price has increased by over 8% in the last 24-hours, which is reflecting market strength in the broader cryptocurrency market. Since it hit a new low this month, XRP has since risen by nearly 20% as a sign of investor confidence.

XRP Price Surges as Bitcoin Nears $70k and Ethereum Tests $2,000

The total crypto market capitalization increased by over 5%, reaching approximately $2.37 trillion. Bitcoin price rallied toward $68,800, while Ethereum moved closer to the important resistance threshold near $2,000. The 24-hour trading volume of XRP increased by 26.69% to 3.53 billion.

Constant capital inflows to XRP-based exchange-traded funds also supported a bullish mood during the last few sessions. On February 24, SBI Ripple Asia collaborated with the DSRV Labs of South Korea in conducting research. 

XRP Ledger will be assessed by the collaboration to determine the feasibility of cross-border payments between Japan and Korea. This trend reinforced expectations of long-term utility since institutional adoption activity is on the increase.

Whale Buying Surges as BTC CVD Signals Explosive Demand

Today, Bitcoin market data points to a sharp surge in large-scale accumulation, according to analyst CW.New BTC CVD indicator readings indicate the presence of aggressive buying pressure in the recent sessions. CW observed that this wave of demand seems to be whale-driven.

The Cumulative Volume Delta indicator indicates a high imbalance between buyers and sellers. The existing statistics indicate that sell orders are continuously being overwhelmed by buy orders. CW termed the transition as an explosion buying that was centralized in high-volume purchasers.

Market structure, too, has changed towards the $70,000 mark. An earlier sell wall at that price has since disappeared. Meanwhile, the momentum of buying remains high in major exchanges.

XRP Price Eyes 36% Upside Amid Growing Buying Pressure

The XRP price recovered to $1.47 after rebounding firmly from support around the $1.40 level during recent trading sessions.  

Market participants returned with stronger buying interest as momentum indicators on the four-hour chart shifted decisively into positive territory.

The recovery was after a long consolidation period around the $1.50 resistance level, which the sellers had severally curtailed the upward moves.

The MACD confirmed the crossover was bullish, and the histogram bars shifted into sustained green momentum. The RSI had moved closer to the 70 level, indicating consolidating upside pressure without high extreme overbought levels.

XRP Price Eye $2 Rebound as On-Chain Data Signals Massive Whale Accumulation
Source: XRP/USDT 4-hour chart: Tradingview

According to analysts, a confirmed breakout above $1.50 may lead to increasing gains, and XRP may be tested against the $1.80 resistance area. Should the bullish momentum persist, an increasing trend towards the $2.00 level would be about a 36% increase on top of the $1.47.

On the other hand, failure to protect the $1.40 support area may subject the asset to another downside risk to the $1.30 area.

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Frequently Asked Questions (FAQs)

1. Why is XRP price rebounding?

XRP rebounded due to strong buying pressure, whale accumulation, and improving overall crypto market sentiment.

2. What role does institutional adoption play?

Partnerships like SBI Ripple Asia and DSRV Labs strengthen long-term XRP utility.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

XRP

XRP

$1.47000960 8.54% (24h)

24 Hours volume

$3.29B

Market Cap

$89.7B

Max Supply

100B

Buy $XRP with MEXC
About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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