Key Ripple Whale Indicator Turns Bullish After Months, Price Rally Ahead?

In major XRP news today, a key indicator for whale activity has turned bullish after many months. This development comes amid broader market recovery and positive momentum for Ripple’s native crypto asset. Will XRP price see a massive rally ahead?

Major XRP News Today: Ripple Whale Flow Metric Flips Positive

Despite many positive Ripple and XRP news, prices remained under selling pressure. XRP price action has largely remained range-bound between $1.34 and $1.44 since for over a month, coinciding with sustained whale distribution.

CryptoQuant’s XRP Whale Flow 30-DMA on-chain metric, which measures whale activity over a 30-day period, has now turned positive after more than 3 months. The flip signals renewed buying interest among whales as experts predict crypto market recovery in March.

If the whale flow metric stays positive and rises, XRP price can even rally ahead. Whales gradually started accumulating at dips in January, with selling cooling off faster this week.

In addition, CryptoQuant’s Exchange Reserve and Exchange Inflows metrics also support buying pressure. XRP has recorded massive buying among TradFi institutions and traders, with spot XRP ETFs recording net inflows of $1.12 million on Tuesday, according to SosoValue data.

XRP Price Nears Major Level

XRP funding rates on Binance have recently entered a phase of extreme negativity, while the price has ranged between $1.35 and $1.50. Despite an almost 60% correction, most derivatives trades are positioning themselves on the short side.

However, periods of negative funding rates on Binance have historically followed by short-term rebounds or corrective rallies in XRP. While this isn’t a trend reversal, more positive XRP news could trigger a recovery.

Analysts including Crypto Tony suggest watching for a reclaim of $1.466 for upside momentum. This could take XRP price towards $1.60, the 50-day moving average. Investors are watching for an XRP price breakout to around $1.70, but holding the $1.40 floor may invite short-term selling pressure.

XRP is trading 3% higher at $1.44, with a 24-hour low and high of $1.39 and $1.47, respectively. Furthermore, trading volume has increased by 15% in the last 24 hours, indicating a rise in interest among traders.