XRP Price Jumps 13% As Whale Accumulation Intensifies: Major Rally Incoming?

• Whales bought 120 million XRP in the recent price dip.
• XRP’s technical analysis showcased bullish indications and a possible rally ahead.

After a few consolidation sessions, XRP gained some momentum on the price charts and exhibited a major upward movement in the intraday session.

As large investors have stepped in during the dip, XRP price reclaimed the $3 mark and displayed relative strength in the crypto market.

At press time, XRP price was trading at $3.18, noting a rise over 13.20% in the past 24 hours. Its market cap stood at $182.39 Billion. However, XRP price was still struggling to cross the range’s upper neckline of $3.32 and hovers in narrow range.

120M XRP Bought by Whales: is a Price Rally Coming?

Whales have captured attention through the recent buying activities. As the crypto market faced setback in the recent sessions, large investors seized the opportunity to buy the dip, which in turn fueled significant gains.

A recent post by Ali Charts on X highlighted that whales have bought 120 Million XRP in the recent hours during the price dip.

Following the whale accumulation, XRP price jumped more than 13% and reclaimed the $3 mark. The trading volume also increased by 50% during this period.

Former Ripple Exec Builds Anticipation

The recent price increase in XRP reflects growing excitement within its community. Valuable additional evidence of improving market sentiment resulted from Ripple obtaining Money Transmitter Licenses in New York and Texas.

Under Trump’s presidency there has been a regulatory transformation in the form of pro-crypto policies.

The XRP community received a hint of forthcoming positive developments following former Ripple staff member Sean McBride’s recent announcement.

Sean McBride posted on X, teasing that the upcoming event “XRP Community Day” will deliver joyful announcements for everyone.

While keeping details under secrecy, McBride expressed optimism about XRP’s future, reiterating his earlier prediction of an XRP ETF launch this year. XRP enthusiasts maintain a high level of anticipation because of McBride’s recent comments.

XRP Price Prediction: is a Rally Beyond $3.3 Possible?

Per the daily timeframe analysis, XRP price maintained upward movement and stayed above the 20 day EMA mark. It was edging closer to a breakout as the bollinger band was squeezing and hints of an upcoming sharp move.

The Relative Strength Index (RSI) currently sits at 63, representing a bullish bias. Despite the market volatility, it continued to resemble higher high swings and marked a steady uptrend.

Per the Fibonacci retracement levels, XRP price stayed above the 61.8% level and targets to break the 78.6% zone.

If bulls break past the $3.3 zone, a significant rally toward $3.80 and $4 mark can be anticipated in the coming sessions.

Going forward, the Open Interest (OI) has noted a rise over 11.10% to $6.69 Billion with a long/short ratio of 1.0068, outlining the bulls dominance.

The immediate support zones were $2.80 and $2.50, whereas the resistance zones were $3.30 and $3.50.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.