Whale Alert! Massive Amounts of XRP on Run—Is This a Bullish Signal for the XRP Price Rally?
The post Whale Alert! Massive Amounts of XRP on Run—Is This a Bullish Signal for the XRP Price Rally? appeared first on Coinpedia Fintech News
The crypto markets have risen over the selling pressure that mounted due to the launch of DeepSeek, an innovative AI model. The majority of the cryptos faced a major sell-off while the AI sector was hard hit. Meanwhile, the XRP price that dropped below $2.7 quickly recovered all of its losses and is gearing up for another breakout. Currently, the crypto has surged close to 10% to reach $3.15 in times when the trading volume has dropped by over 18%, hinting towards the bears remaining passive.
Meanwhile, the XRP price continues to trade within a bullish pattern, holding the possibility of a bullish breakout soon.
In an interesting update, massive whale activity has been recorded in the past few hours, which could validate an upcoming bullish move. During the recent sell-off, the whales have accumulated millions of XRP and also have kept the tokens on the move. According to data shared by a popular analyst, ALI, the whales have bought nearly 120 million XRP during the recent dip.
This is considered a bold move by the whales who dived deep into XRP during a dip. This massive buying may also have revived a decent ascending trend with the XRP price, preventing the token from attracting additional losses. Meanwhile, according to another update shared by Brett, nearly 25 million XRP have been bought from Upbit and transferred to an unknown wallet. This move is believed to circulate bullish flags for the crypto, which is approaching one of the pivotal resistances.
The market participants jumped in to buy XRP as it plunged below the 0.786 FIB at $2.77, which helped the price trigger a quick rebound. Currently, the price is closely consolidating within a narrow range while the technicals have turned bullish. The MACD & DMI levels are primed for a bullish crossover, hinting towards a bullish breakout fast approaching.
Meanwhile, the ADX is hovering around the lower range as the bulls are currently within an accumulation phase. Besides, the on-balance volume remains incremental, showing no signs of a pullback. Additionally, the Chaikin Money Flow indicator is heavily above 0, suggesting massive strength within the rally. Therefore, the XRP price is believed to break above 1 FIB and mark a new ATH at 1.2 FIB at $4.18 shortly.
