In the last two days, large holders have purchased 900 million XRP, coinciding with the closure of a court case between Ripple Labs and the SEC.
Whale Activity and Rising Volumes
Market analyst Ali Martinez reported that increased purchases by large investors occurred after the resolution of a long-standing legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission. Daily trading volume for XRP reached $8.77 billion in the last 24 hours, up 69% from the previous day.
Price Levels to Watch
At the time of writing, Ripple (XRP) was priced at $3.13, showing a 4% decline over the past day but a 3% gain compared to a week earlier. Price movements indicate that levels $3.27 and $3.60 could be pivotal.
Support Zone and Trade Plans
Analyst CrediBULL Crypto notes the $2.95 – $3.11 area as a preferred buying range. XRP is currently trading just above this zone and may dip before attempting to rise. Projections suggest a potential rally towards $3.60 from this range.
Regulatory clarity around XRP is a positive shift, but market sentiment remains tied to broader economic factors. Investors are keenly focused on the $3.27 level, which could set the stage for upward momentum.
