The crypto market has turned green, and XRP is gaining attention once again. Over the past 24 hours, XRP surged above $2.50, recording a 2% daily rise, as on-chain data revealed that whales accumulated over 30 million XRP during the same period.
The sudden rise in whale accumulation is being seen as a sign of investor confidence in XRP. Whale movements often mean long-term sentiment, and large holders appear to be positioning themselves ahead of upcoming catalysts.
XRP Technical Analysis: Mixed Signals
On the technical front, XRP is showing mixed signals on different time frames. On the weekly chart, analysts point out that the token is still facing a bearish divergence and XRP could consolidate around the $2.30–$2.40 range before making a decisive move.
However, in the shorter-term charts, XRP is maintaining a bullish divergence. The token faces immediate resistance near $2.60, a level it has struggled to break in recent attempts. On the downside, key support zones are located around $2.30, with stronger support near $2.20 if prices weaken further.
Institutional Interest and ETF Tailwinds
Beyond technicals, growing institutional interest in XRP is also making headlines. With Ripple expanding its footprint in global finance through acquisitions like GTreasury and partnerships with major payment providers, institutional adoption is expected to rise.
The upcoming wave of crypto ETF is also seen as a powerful tailwind for the next market phase. Once approved, these ETFs could introduce new liquidity and broader access to XRP for U.S. investors, similar to what has already occurred with Bitcoin and Ethereum ETFs.
Broader Market Momentum
XRP’s rally comes amid a general recovery in the crypto market. Bitcoin climbed past $113,000, and Ethereum moved above $4,000, helping boost sentiment across altcoins. The total crypto market capitalization is up over 2%, now sitting around $3.83 trillion.
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Credit: Source link
