Ripple (XRP) Sees Increased Whale Activity Amid Bullish Demand Shift
Volatile Week but Whales Keep Accumulating
Ripple (XRP) has experienced a volatile trading week, but this hasn’t deterred large investors, known as whales, from accumulating the token. Despite a recent price decline, data suggests a growing demand that could signal a bullish turn.
Price Movement Overview
XRP began the week near $2.06, briefly rose above $2.15, and is currently trading at around $2.04. On‑chain data reveals that whales are actively buying XRP, even as it trades near its yearly low. This pattern is often seen before market recoveries.
On‑Chain Indicators Show Buyer Dominance
The Spot Taker Cumulative Volume Delta (CVD) has shifted to indicate buyer dominance, suggesting increased purchasing interest. Additionally, South Korean exchanges, particularly Upbit, are seeing significant XRP withdrawals, hinting at a shift in market behavior.
Analyst Price Targets
Analysts believe that if XRP maintains support above $1.97, it could aim for resistance levels at $2.41, $2.75, and $2.90. However, a drop below $1.97 could see it fall to $1.64.
wXRP Launch and Future Outlook
The launch of wXRP by Hex Trust could enhance XRP’s accessibility across multiple blockchains, potentially boosting demand and stabilizing prices. With whales accumulating XRP and positive shifts in taker demand, the token may be poised for a recovery. New developments like wXRP could further support its price by increasing utility and attracting more investors.
