XRP is attempting a strong recovery after last week’s decline, with the altcoin posting an 8% rise in the past 24 hours.
The broader market’s positive shift is helping XRP regain momentum, but the real catalyst appears to be renewed confidence from large investors. This surge in whale activity could position XRP for a retest of multi-week highs.
XRP Whales Rescue The Altcoin
Whale buying has intensified as XRP approached the $2.00 psychological level earlier this week. On-chain data shows that wallets holding between 100 million and 1 billion XRP collectively accumulated 620 million XRP in just a few days. At current prices, this accumulation is worth more than $1.36 billion.
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Such aggressive buying at discounted levels indicates that whales are positioning for a potential rebound and view the recent dip as a buying opportunity rather than a trend reversal. Their renewed confidence signals that the upside potential outweighs the short-term volatility.
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Ethereum Whale Holding. Source: SantimentThe macro backdrop for XRP is also showing marked improvement. The HODLer Net Position Change — an indicator tracking movements among long-term holders — is flashing bullish for the first time since mid-October. The metric has shifted back into positive territory, signaling that LTHs have stopped selling and are once again accumulating.
Support from long-term holders is critical for maintaining price floors during periods of market uncertainty. Their return provides XRP with a more stable base and reduces the likelihood of major downside moves, priming the asset for sustained recovery should broader market conditions remain favorable.
XRP HODLer Net Position Change. Source: GlassnodeXRP Price Has A Shot At Recovery
XRP is trading at $2.20 at the time of writing, up 8% in 24 hours after bouncing cleanly from the $2.00 intra-day low. The rebound from this key psychological level reinforces bullish sentiment and aligns with heavy whale accumulation.
Holding $2.20 as support places XRP in a strong position to target $2.36 next. If XRP manages to break this resistance, the altcoin could climb toward $2.50 and log its highest price in three weeks. Whale buying and LTH support make this scenario increasingly realistic.
XRP Price Analysis. Source: TradingViewHowever, failure to maintain investor confidence could still introduce downside risk. If selling pressure increases, XRP may slip back to the $2.02 support level. This would invalidate the bullish setup and erase recent gains.
Source: https://beincrypto.com/xrp-whale-rack-up-as-price-falls/
