XRP’s Recovery Shows Resilience

XRP’s recovery demonstrated resilience as buyers entered the market despite a decline in whale accumulation. Market sentiment and increased trading volume appeared to support XRP’s rally.

Whale Accumulation and XRP’s Price Drop

Whale activity has heavily influenced XRP’s price in recent weeks. Following a decline in whale accumulation, XRP experienced a significant drop in price. However, over the past 12 hours, XRP staged a recovery, rising 8%.

Data showed that whale activity previously drove XRP’s price surge. Large holders, especially those holding 100 million to 1 billion XRP, accumulated the asset before the rally. As accumulation slowed, XRP’s price also fell, losing over 15% from its peak to a low of $2.04. This decline confirmed the crucial role of institutional and whale interest in maintaining XRP’s price momentum.

XRP’s 12-Hour Recovery – A Sign of Strength?

In the last 12 hours, XRP’s price rebounded to $2.21. This suggested that forces beyond whale activity were supporting the price. Whale accumulation data indicated some renewed interest, albeit not at the previous rally’s scale. Technical indicators like the Relative Strength Index (RSI) showed recovery from oversold conditions, signaling increased buying interest.

Moreover, the 50-day and 200-day moving averages indicated a broader uptrend, despite recent corrections.

Beyond Whale Activity – What Could Drive the Price?

XRP’s recent recovery highlights additional factors driving its price. Stabilizing market sentiment following recent volatility allowed XRP to regain its footing. Increased trading activity suggested that retail and institutional investors were re-entering the market, mitigating downside risks. Staying above $2 indicated strong buyer interest at lower levels, reducing the chances of a major breakdown. Positive news about adoption or improvements to the XRP Ledger could further enhance investor confidence.

Can XRP Sustain Its Recovery?

XRP’s recent recovery suggests its price is not solely influenced by whale activity. While large holders are significant, trading volume, market sentiment, and key technical levels also contribute to price movements. If XRP maintains levels above $2.10 and renews whale interest, it could rally towards previous highs. However, continued decline in whale activity might hinder its recovery. The upcoming days will be critical in determining if XRP retains momentum or faces new sell-offs.