XRP Price Shows Strength Amid Whale Accumulation, Key Support Levels May Influence Move Toward $4

Key Points

1. Whale accumulation is driving XRP's price strength, with entities holding 10-100 million XRP increasing their supply to 8.31 billion tokens (14% of circulating supply).

2. XRP Ledger network growth shows heightened demand, with 11,000 new wallet creations on July 18 and an average of 7,500 daily, alongside a 30% gain against Bitcoin in the past month.

3. Key support levels are $2.95 (aligned with monthly VWAP) and $2.80; maintaining these is crucial for upward momentum toward $4.

4. Technical analysis suggests a Wave 3 target near $3.82, with $3 as critical support and $3.3 as resistance, and Elliott Wave analysis indicates potential for XRP to reach $4 soon.

5. Whale accumulation reduces selling pressure, supporting price stability and long-term prospects for XRP.