Recent days have seen a surge in whale activity, with significant investors accumulating 900 million XRP tokens in just 48 hours after Ripple Labs settled its legal dispute with the SEC. This event has led to increased trading volumes and renewed institutional interest.
Institutional Interest Surges Following Settlement
The substantial whale accumulation occurred after Ripple Labs and federal regulators agreed to close their long-running legal battle. Analysts note a correlation between the settlement announcement and increased large-holder activity. Open interest metrics also rose, indicating traders are establishing new positions across derivatives markets.
Technical Analysis Points to Key Resistance Level
XRP traded at $3.13 at publication time, reflecting a 4% daily decline but maintaining a 3% weekly gain. Analysts identify $3.27 as a critical resistance level. 'Break it and $3.60 is next,' stated market analyst Ali Martinez.
Support Zone Offers Strategic Entry Point
Analyst CrediBULL Crypto highlighted the $2.95-$3.11 range as an attractive accumulation zone for traders. XRP currently trades just above this support area, with a potential test of these lower levels before upward movement. 'As long as the green zone holds we can target range highs or new ATH,' noted CrediBULL Crypto.
The combination of regulatory clarity and significant whale accumulation creates a favorable outlook for XRP's near-term prospects. However, broader market conditions and global dynamics continue to influence cryptocurrency sentiment.
