XRP Jumps 8% as Crypto Whales Scoop Up $1.3 Billion
XRP surged 8% as large investors, or whales, accumulated over $1.36 billion worth of the cryptocurrency.Summary
XRP has posted an 8% recovery in 24 hours, driven significantly by renewed confidence from large investors, or whales. Wallets holding between 100 million and 1 billion XRP collectively bought 620 million XRP recently, valued at over $1.36 billion, suggesting they view the recent dip as a buying opportunity.
Furthermore, the macro backdrop for XRP is improving, as the HODLer Net Position Change indicator has turned positive for the first time since mid-October, signaling that long-term holders have stopped selling and resumed accumulation. This LTH support provides a more stable price base.
At the time of writing, XRP was trading at $2.20, having bounced from the $2.00 low. This positions XRP to target resistance at $2.36, with a potential climb toward $2.50 if bullish momentum holds; however, failure to maintain confidence could see it slip back to the $2.02 support level.
(Source：BeInCrypto)