XRP Whale Accumulation Spikes: What’s Driving the Demand? – BitRss

XRP’s price fell over 5% in the past 24 hours, trading around $2.36 early Thursday in the European session. The decline follows a broader crypto market correction caused by U.S. monetary policy shifts. Despite a fully diluted valuation of $235 billion and a 24-hour trading volume of $20 billion, XRP has remained in a consolidation phase for two weeks.

Bull Run Confirmed Despite Short-Term Price Drop 

XRP’s long-term outlook remains bullish. The token broke out of a six-year triangular consolidation, signaling the start of a macro bull run. The breakout followed the rise of pro-crypto U.S. leaders, including Donald Trump. Additionally, the XRP/BTC pair rebounded from a key support level, reflecting a broader altcoin resurgence driven by institutional investors.

Related article: XRP Price Dip Triggers Whale Accumulation: What’s Next?

On-chain data from Santiment shows that large XRP investors, holding 100 million to 1 billion tokens, accumulated over 860 million XRP this week. This purchase is valued at more than $2 billion. Whale investors’ ongoing accumulation signals growing confidence in XRP’s future. Institutional backing and Ripple’s strong business model have further strengthened investor sentiment.

Ripple’s RLUSD Stablecoin Launch Boosts Market Sentiment 

Ripple’s launch of its fiat-backed RLUSD stablecoin has sparked interest from centralized exchanges and DeFi protocols. The new stablecoin aims to improve XRP’s liquidity and strengthen cross-border payments. RLUSD’s debut is expected to play a key role in XRP’s long-term growth, drawing more investor attention.

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Technical analysis suggests a potential XRP rebound. On the daily chart, XRP’s price broke out of a bullish pennant flag that formed over the past two weeks. Analysts also identified an inverted head-and-shoulders (H&S) pattern, indicating a possible rally toward its all-time high of over $3.40. However, a sustained close below $2 could invalidate this bullish outlook and extend the ongoing correction.

Related article: XRP’s Recent Rally: Is the Price Move Sustainable?

XRP’s short-term price drop has not dampened its long-term bullish sentiment. Whale investors continue to accumulate XRP, and Ripple’s strategic launch of the RLUSD stablecoin strengthens the token’s liquidity. 

While technical indicators hint at a potential price surge, investors should remain cautious. A close below $2 could signal further market correction, but a rally above $3.40 remains a strong possibility in the near term.

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