Significant investors, often referred to as ‘whales’, have accumulated approximately 900 million XRP tokens over a 48-hour period. This substantial buy-in occurred as the price of XRP demonstrated relative stability near the $3.19 mark.
Market activity remains robust, with daily trading volume surpassing $8.39 billion within the last 24 hours, indicating heightened investor participation and liquidity.
Technical analysis by market commentator Joe Swanson highlights an inverted hammer pattern on the XRP chart. This pattern, coupled with an RSI reading sustained above 50, suggests the potential for a bullish trend reversal.
Key resistance levels identified by analysts include $3.38 and $3.66. Meanwhile, the 50-day moving average at approximately $2.81 is considered a critical support level requiring close monitoring by traders.
At the latest check, XRP was trading around $3.15. Despite the slight pullback from the stability point, this price reflects a weekly gain of 4.28%. Market participants remain focused on the identified key support and resistance levels as significant indicators of future price direction.