Jakarta, Pintu News – XRP (XRP) is trying to recover from its recent volatility, with its price continuing to rise gradually in recent days.
While the whales (owners of large amounts of assets) are capitalizing on this recovery momentum, there is still uncertainty as to whether new investors will return to the market.
This ongoing price movement may be favorable for large holders, but the general market sentiment is still unstable.
Over the past week, XRP whales have been on a massive accumulation spree, showing strong belief in the token’s future recovery potential.
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Wallet addresses holding between 10 million and 100 million XRP have added more than 420 million XRP, with total purchases exceeding $915 million.
This surge in whales ‘ activity indicates that, despite the recent volatility, large investors see the current price as an opportunity to buy.
The whales ‘ confidence reflects their belief that XRP will eventually recover, and they are positioning themselves for potential gains.
Overall, market sentiment towards XRP remains mixed, especially with regards to the growth of new addresses. In the past week, the number of new XRP addresses saw a sharp decline, falling to its lowest point in the past two months.
This trend suggests that XRP is starting to lose traction among new users, likely due to a lack of sustained growth and uncertain market conditions.
Despite the activity from the whales, the decline in the number of new addresses raises questions about XRP’s ability to maintain its broad appeal in the short term.
The lack of new investment in the form of new addresses suggests that the general market sentiment is still cautious.
The price of XRP has risen by 8.4% in the last 48 hours and was trading at $2.18. With strong support from the whales, this momentum could potentially continue in the near future.
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If accumulation by whales continues and market sentiment turns positive, XRP prices are likely to continue rising, with $2.23 as the next major resistance level.
If XRP manages to break the resistance at $2.23, the price could be pushed towards $2.32, provided that the $2.27 level is successfully converted into support.
A sustained rise above $2.27 would be a positive signal for further upside movement, which may signal a continuation of the bullish trend. With the support of the whales, XRP has the potential to break these price boundaries.
On the other hand, if the general market conditions turn bearish (downtrend) or if investor skepticism triggers more selling, XRP could fall below the $2.13 support level.
A drop to $2.02 would invalidate the current bullish outlook, signaling a potential change in sentiment and further losses in the near future.
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