XRP Price Analysis: Whales Accumulate Tokens Despite Bearish Sentiment, Bullish Signs Emerge

Ripple’s XRP is expected to improve in performance, as evidenced by recent whale activity, technical data, and positive signs.

Despite the current bearish sentiment, whales have recently purchased 50 million XRP tokens, which could potentially lead to investor confidence and a price rebound.

The whale to exchange flow, which measures the movement of tokens from whales to exchanging hands, is currently at a multi-year low. This suggests that large holders are not selling, but rather buying tokens.

On the technical front, the trend on Balance Volume (OBV) is suggesting that investors may be buying more, and that bulls may rebound by reclaiming $0.585 as support, essentially acting as an ice cap. This could be a major breakthrough for XRP, which has been struggling to break out of its tight trading range.

However, not everything is going green: the momentum indicator the Awesome Oscillator is showing bearish momentum on the rise; traders should be careful what happens next in short-term market sentiment.

Moreover, the recent price rejection at the $0.62 zone is evidence that sellers are still holding their ground. However, there are areas of support that traders can use to buy shares.

The 1-month look-back period liquidations heatmap indicates a significant amount of liquidity at $0.5425, which could serve as opportune indicators for the token’s price.

Furthermore, the regions surrounding $0.54-$0.55 are also ripe for buyers to step in and help stabilize the price.

At present, however, there is still an invalidation level of $0.5317, which would lead to further drop in XRP’s price; however bulls can successfully claw back $0.585 as support but that could result in another bounce to $0.617- $0.62.

If momentum isn’t strong, buyers will likely hit the next resistance zone – $0.7, which is one of those important support zones.

In essence, even though we are in bearish territory short term, indicators over the long term suggest that XRP could turn around; whale activity, on-chain data, and technical indicators all point to recovery, but traders need to stay alert and price key levels closely.

The next few days will be crucial for XRP’s price course, with support zones of $0.54-$0.55 and $0.535, and resistance points at $0.617-0.62.

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