$550 Million XRP Accumulation Shows Effect, Price Rallies 12%
XRP surged 12% following a significant accumulation phase where investors withdrew over $556 million from exchanges.Summary
XRP experienced a notable 12% price rally after a week of stagnation, driven by strong investor accumulation. On-chain data reveals that investors withdrew approximately 216 million XRP, valued at over $556 million, from trading platforms, indicating high confidence and limiting immediate selling pressure. This accumulation has positively impacted XRP's short-term structure. Technically, the Relative Strength Index (RSI) has crossed above 50.0, signaling strengthening bullish momentum. At the time of writing, XRP traded at $2.55, attempting to solidify $2.52 as support. A sustained rally could see XRP challenge the $2.64 resistance, potentially leading to $2.75; however, failure to break $2.64 might cause a retest of the $2.36 support level.
(Source：BeInCrypto)