The cryptocurrency market has been relatively quiet, and XRP is no exception. While its price has hovered around $2.11, some blockchain data suggests interesting happenings.
Wallets Reach Historical High
According to data from Glassnode, the number of XRP wallets holding at least 10,000 coins has reached a new record — over 300,000. This increase indicates that more people are building larger positions in XRP. At the same time, large holders, or whales, have been actively buying. In the last month, they purchased around 900 million XRP, worth approximately $1.8 billion.
XRP Chart Analysis and Price Forecast
Chart analysis shows that XRP is sitting at a critical level, just above the 200-day moving average, around $2.06. This line has been strong support before. Currently, the momentum appears weak, with the RSI near 40, indicating that buyers are losing strength. If the price falls below $2.06, it may drop to $1.90 or even $1.70, which were also strong support levels earlier this year.
Conclusion on Current Market Situation
The situation with XRP shows conflicting signals: while the charts indicate weakness, wallet data reflects increased activity from major investors. If support holds, this quiet accumulation could herald upcoming changes. Conversely, the market may face a deeper correction.
Given the current stability of XRP, data on wallets and whale activity could suggest potential price changes. Investors should closely monitor developments.
