People wonder if this represents a new pattern or remains an isolated incident. The buying activity by whales shows market signs of moving upward. Santiment found that big XRP owners who hold between 100 million and 1 billion coins expanded their investments when prices dropped.
The market regularly builds supply before entering a new upward trend phase. Whales frequently buy whales ahead of price increases but their historical buying does not lead to constant market upsides in every case. Since the latest whale purchase of XRP, whale holder numbers exhibit multiple changes in their ownership levels.
XRP Price Fluctuates Again
Some whale investors continue to buy XRP whereas others sell their holdings or put their money elsewhere. The market must watch to see if whale buying continues since it will demonstrate investor belief in XRP’s future performance.
Per TradingView the price of XRP declined to $2.29 before recovering to $2.45. The whales started acquiring XRP as its price declined during this moment. The price currently slips below its 50-day Moving Average at $2.61. The currency remains underperforming its past levels before achieving full recovery.
The Accumulation/Distribution indicator reveals a regular upward movement that signals whales are purchasing XRP actively. Continued buying pressure may help XRP surpass vital resistance barriers. Even though prices show unusual behavior they must find strong support before proclaiming a recovery back to previous levels.
To start strengthening its rally XRP needs to surpass the resistance zone created by the 50-day Moving Average. Bitcoin market movements alongside market sentiment will have a strong effect on XRP price development. When large traders called their whales this purchase might lead to greater price gains but these gains would likely fade if buying stopped.
The following important price markers are $2.45 on the support level and $2.61 on the resistance level. XRP will show increased buying pressure when it clears this resistance level and becomes more likely to continue growing up.
Although the major XRP investment displays positive market dynamics we will discover if it continues or fades away through time.The market needs additional bitcoin whale buying patterns to show whether this pattern continues.
This news is republished from another source. You can check the original article here
