- Whales accumulate XRP, increasing large wallet holdings and fueling bullish momentum.
- XRP outperforms Bitcoin, gaining 297% in 14 weeks amid strong investor confidence.
- Key resistance near $3, with continued buying pressure potentially driving further gains.
Ripple’s XRP is one of the strongest performers in the cryptocurrency market. As many coins struggle, XRP has been making impressive gains. Over the past 14 weeks, the XRP/BTC price ratio skyrocketed by an incredible 297%. This bullish trend suggests increasing confidence among investors, particularly large holders who have steadily accumulated more tokens.
Growing Whale and Shark Wallets Fuel Confidence
Santiment data shows that wallets holding at least 100,000 XRP have grown by 0.8% since early December. This suggests that big investors are positioning themselves for potential price gains. Ripple has outperformed Bitcoin in recent months, showing increased market confidence. While many cryptocurrencies are struggling, XRP has continued to climb. More large wallets could help maintain this momentum, especially if Bitcoin stays range-bound. But will the current momentum last or Bears will step in and drive price lower?
What’s Next for XRP?
At press conference, the price of XRP was holding steady at $2.6881, despite a small 1.81% dip in the past 24 hours. The 50-day moving average is close at $2.6778, while the 200-day MA is lower at $2.3202, supporting a bullish trend. However, the price is nearing the upper Bollinger Band, which suggests possible volatility ahead.
The Accumulation/Distribution (A/D) metric sits at 5.98 billion, indicating strong buying interest. If this continues, XRP could soon challenge the $3 mark. On the other hand, if selling pressure increases or large holders slow down their activity, the price might pull back toward $2.35.
For now, traders or investors should monitor large wallet movements and Bitcoin’s market conditions. If accumulation continues, Ripple’s rally may persist, positioning XRP to break new highs in the coming weeks.
