XRP has faced a sharp downturn over the past few days, shedding over 23% of its value since Tuesday. This steep correction has mirrored the broader market’s turbulence, intensifying negative sentiment around XRP. However, notable developments are emerging beneath the surface of this bearish price action.
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Key on-chain data from Santiment reveals that whales are taking advantage of the dip. In the last 24 hours alone, these large holders have accumulated an additional 110 million XRP, demonstrating significant confidence in the asset’s long-term prospects. Historically, whale activity during negative sentiment often signals strategic positioning for future gains.
This accumulation trend suggests that whales are undeterred by short-term price fluctuations, focusing instead on XRP’s potential in the coming months. As retail traders grow increasingly cautious amidst the recent drop, the actions of these large holders highlight a different perspective.
While the immediate outlook for XRP remains uncertain, the notable whale activity is a bullish indicator for the long run. Whether this signals a bottom or simply positions XRP for a broader recovery remains to be seen, but it is clear that big players are looking beyond the current market turbulence.
XRP Holding Key Levels
XRP is currently trading 28% below its multi-year high of $2.90, but it has managed to stay above a critical support level at $1.90. This zone, regarded as the bulls’ last line of defense, has proven resilient amid recent market volatility. Holding above this level is essential to maintaining the bullish structure that has characterized XRP’s recent price action.
Adding to the optimism, key metrics from Santiment, shared by crypto analyst Ali Martinez, reveal that XRP whales have accumulated actively during the pullback. Over the last 24 hours, these large holders have purchased an additional 110 million XRP, underscoring their confidence in the asset’s long-term potential. Historically, whale activity during price dips often signals preparation for a recovery.
The next step for XRP to regain momentum is to push above critical supply levels that have previously stalled upward moves. A breakout above these zones could trigger a swift rally, bringing XRP closer to its multi-year high.
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