Despite the Dip, Whales Are Quietly Accumulating XRP

The cryptocurrency market remains unpredictable, and XRP is no exception. Over the past 24 hours, XRP has dropped by 3.6%, bringing its price down to $2.37.

In the ever-shifting landscape of the cryptocurrency market, anything is possible, and XRP is no exception.

Over the past 24 hours, XRP has dropped by 3.6%, pushing its price down to $2.37. This downturn follows the Federal Reserve’s meeting on Wednesday, which has left the market struggling to find direction.

Looking at the bigger picture, XRP has lost 7.7% in the past 30 days, showcasing the broader bearish sentiment that has been affecting most cryptocurrencies. However, despite this 30-day dip, something interesting is unfolding behind the scenes.

As other investors panic sell at the slightest sign of trouble, wealthy investors, often referred to as “whales,” are quietly accumulating XRP.

Whales are stacking up XRP

According to data from blockchain analytics firm Santiment, wallets holding between 1 million and 10 million XRP have increased their holdings from 5.6 billion to 5.81 billion XRP since early February—a 3.8% rise in under two months.

An even smaller number of investors are holding between 10 million and 100 million XRP. These deep-pocketed investors have also increased their positions, going from 4.85 billion to 6.85 billion XRP.

These figures highlight the significant interest that large investors have in XRP, particularly in a market that has been largely pessimistic towards most cryptocurrencies.

$1.90 has been a reliable buying zone for XRP

Meanwhile, XRP’s daily trading volume has plummeted by 60% in the last 24 hours, largely due to market jitters caused by the Fed’s rate decision and Donald Trump’s appearance at a NYC crypto summit.

Despite this drop, XRP has repeatedly found strong support between $1.70 and $1.90 over the past four months. This means that each time the price hits these levels, it tends to bounce back.

Relative Strength Index (RSI) suggests XRP still has bullish potential.

MACD histogram shows positive momentum is building up.

Traders and long-term investors see $1.90 as a solid entry point, believing that XRP’s resilience makes it one of the best-performing cryptocurrencies this year.

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