Five days after XRP surged above $3.00, Santiment data indicates whale accumulation continues, according to analytics firm Santiment.
XRP Climbs to $3.03 High, Whale Accumulation Persists
XRP (XRP) experienced a significant price breakout on Friday, touching a daily high of $3.03 shortly after market open.
However, the altcoin has partially retreated from these elevated levels, attributed to profit-taking.
Despite the pullback, technical indicators suggest renewed bullish momentum.
Veteran trader Peter Brandt identified a “highly rare continuation compound fulcrum” pattern on XRP charts, forecasting potential resistance near the $4.47 region if current trends hold.
Furthermore, Santiment data shows whale accumulation remains strong, with the number of whale wallets holding over 1 million XRP reaching an all-time high of 2,743.
Key Levels Shape XRP’s Near-Term Outlook
Chart analysis points to several crucial support and resistance levels influencing XRP’s short-term movement.
The immediate support zone lies around the $2.65 level, where sellers appear to be gathering strength. A meaningful bounce from this level could signal a shift.
If sustained above $2.65, bulls may attempt to reclaim the $3.00 handle and potentially extend gains towards $3.40.
Failure to hold near the top end of this range could see a retest of the 20-day exponential moving average (~$2.49), potentially confining XRP to a range between $2.00 and $3.00 for an extended period.
On the 4-hour timeframe, the 20-EMA serves as a critical dynamic support zone.
Recent price action presents a mixed signal, with a potential negative divergence suggesting weakening momentum, although a successful bounce could provide entry points for bulls seeking to push price higher beyond $3.00.
Disclaimer: The following investment-related information is not investment advice. Trading and investing in cryptocurrencies involves significant risk. Always conduct your own research before making any financial decisions.
