Research firm Whale Alert reported that large cryptocurrency holders (aka "whales") have taken advantage of the recent price drop to purchase significant amounts of XRP.

On the night of August 5, Whale Alert staff recorded two large transactions that saw 48 million XRP worth $22.6 million withdrawn from cryptocurrency exchange Binance. This fact indicates that large investors probably purchased a large number of coins in a bearish trend.

The XRP exchange rate began to decline sharply on July 31, and by Monday had fallen 30%, reaching its lowest level since July 13. After that, the asset price bounced off the upper boundary of the support zone at $0.46 and corrected by 4%. This, together with the activity of whales, may indicate a possible reversal in the market.

Analysis of the chart shows that the situation is not in favor of the bulls yet, however, based on previous trends, we can expect the value of XRP to grow to the line of the moving average for 20 days, which is currently at $0.56. Thus, we can predict a 15-17% increase in the price of the cryptocurrency in the near future. If the bears retake the initiative again after reaching this peak, XRP may become cheaper again.

In addition, the behavior of whales during this period deserves special attention. Their purchases during a bearish trend often signal long-term confidence in the assets and the possibility of subsequent growth. In this case, large transactions with XRP may be a sign of expectation of positive changes in the market.

Current data suggests that a rise in the XRP rate to the 20-day moving average line is possible. This could push the price to the $0.56 level, where significant resistance is expected. If this level is broken, we can expect the uptrend to continue. Otherwise, if bears dominate, the price may start to decline again.

Thus, the current market situation for XRP is characterized by uncertainty, but with the potential for growth. It is important to keep watching the actions of the big players, as their strategies may have a significant impact on price dynamics. In any case, further developments in the cryptocurrency market will depend on many factors, including macroeconomic conditions and the general mood of investors.