BeinCrypto reports that the renewed interest from whale investors signifies a reversal from the previous decline observed in the ownership of large addresses since the beginning of the year.

The shift in this trend over the past two weeks may indicate a broader change in market sentiment, showing a return of confidence among substantial investors. They appear to strategically increase their XRP holdings, possibly in anticipation of future price appreciation.

Further network activity on the XRP network supports an optimistic view for this major crypto. A significant spike in daily active addresses to 47,930 on March 9 preceded a sharp rise in the price of XRP.

Network activity often reflects market sentiment, indicating positive views among traders and investors. However, after this rally, a correction period occurred, with subsequent price drops and daily active addresses.

The period from March 22 to March 28 saw a resurgence of interest in XRP, with daily active addresses increasing, indicating increased trading activity and the potential for upward price movements.

The correlation between active addresses and price trends shows a growing involvement among investors, potentially laying the foundation for a bullish trend.

Regarding price predictions, the XRP market appears to be in a consolidation phase, with a potential support level at US$0.58. If this level is breached, it could lead to a significant decline.

However, Exponential Moving Averages (EMA) show tight consolidation around the current price, indicating a balanced market where buyers or sellers do not have clear dominance.

This consolidation phase is critical. It reflects a market in equilibrium, ready for a breakout. Ongoing accumulation by whales, combined with stable daily active addresses, lays a fertile groundwork for potential price spikes.

If XRP can build momentum and surpass key resistance levels, we may witness a significant recovery, potentially testing higher resistances near US$0.75.

The dynamics of the XRP market highlight the significant influence of whale investors and the vital role of network activity in shaping price trends. As the market navigates through this consolidation phase, strategic accumulation by whales and broader market response will be critical in determining the future direction of XRP prices.