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XRP is currently trading around the $3.10 level following a weekend marked by high volatility and a lackluster market response to President Donald Trump’s inauguration day. Hopes were high among cryptocurrency investors that the new US president would highlight pro-crypto policies in his inaugural address. However, the absence of any mention of the cryptocurrency led to short-term selling pressure, sending the price of XRP lower.
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Despite the initial disappointment, key on-chain metrics from Santiment paint a more optimistic picture for XRP. The data reveals that whales – the large owners of XRP – have purchased more than 100 million tokens in the past 48 hours. This significant accumulation indicates that major players remain confident in XRP’s long-term potential, even amid temporary market uncertainty.
The buying spree by whales comes at a critical time, with XRP testing key support levels near $3.10. With strong on-chain activity and institutional interest, the cryptocurrency appears to be building a foundation for a potential recovery. Investors are now closely monitoring signs of renewed momentum as the market digests recent events. While the short-term outlook remains cautious, XRP’s resilience and growing confidence among major players could pave the way for a recovery in the coming days.
XRP shows strength
XRP broke through critical levels, reaching all-time highs last Thursday, marking its highest price since January 2018. This milestone has ignited bullish sentiment among investors, with many confident that XRP will continue its upward trend despite the ongoing volatility in Market. As one of the best-performing assets in the current cycle, XRP’s resilience and upward trajectory is attracting the attention of both retail and institutional investors.
The market remains optimistic about XRP’s short- and long-term prospects, supported by strong technical and fundamental signals. Recently, famous analyst Ali Martinez Key data highlights from SantimentWhich reveals a lot of whale activity.
Data shows that whales have accumulated more than 100 million XRP in the past 48 hours, indicating a strong and ongoing accumulation. This significant buying activity indicates that major players are preparing for further upside, strengthening confidence in XRP’s potential for sustainable growth.
Meanwhile, market participants are eagerly awaiting an announcement from President Donald Trump that could inject renewed optimism into the cryptocurrency space. As the final phase of an uptrend begins, a pro-crypto statement can serve as a strong catalyst to keep the broader market trending higher.
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With XRP consolidating near new highs, its ability to maintain upward momentum will be crucial. Investors are closely monitoring signs of continued strength, with XRP expected to lead the market into new territory. If bullish trends continue, XRP is well-positioned to remain a standout performer in the ongoing cryptocurrency rally.
Price Action: Key Levels to Watch
XRP is currently trading at $3.09, after a period of extreme volatility and uncertainty in the market. Despite the recent volatility, the cryptocurrency is showing signs of strength as it prepares for its next upward move. Breaking last year’s high of $2.90 was a pivotal moment for XRP, signaling renewed bullish momentum. After reaching a new all-time high (ATH) of $3.40, XRP successfully retested the previous high as support, which is a positive indicator for its short-term trajectory.
If the bulls can maintain their control and hold above the $2.90-$3.00 support zone, XRP appears poised for a bullish rally. This consolidation above critical levels is building a strong foundation for further gains, and a decisive rise above $3.40 ATH could lead to a major breakout.
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Market sentiment remains optimistic as XRP shows resilience and bullish technicals. Investors are watching the price action closely, and many are anticipating a rally if key support levels hold. The possibility of another rally puts XRP in the spotlight, as it aims to continue leading the market higher. As the broader cryptocurrency market heats up, XRP’s performance in the coming days will be crucial in determining whether it can maintain its upward trajectory and reach new highs.
Featured image by Dall-E, chart from TradingView.
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