XRP has struggled to maintain a steady rise above the 50% Fibonacci retracement level of $0.60, with recent movements seeing it trapped below the 38.2% Fibonacci line at $0.55.
Although there are signs of potential recovery, the market remains cautious due to the altcoin’s repeated failures to break through these key resistance points.
Significantly, large investors, or crypto whales, have been actively accumulating XRP. Over the past week, these whales have amassed more than 330 million XRP, valued at about $177 million.
This substantial accumulation suggests that these major stakeholders are positioning themselves for a potential price increase. Historically, such large-scale purchases by whales have often preceded price rallies, indicating a possible bullish trend for XRP.
On a broader scale, the Mean Coin Age (MCA) indicator, which tracks the average age of coins in circulation, has shown recent improvements. After a period of decline in late August and early September, the MCA has started to rise again, signaling that long-term holders are opting to keep their XRP rather than moving it.
This increased holding activity reflects a growing confidence among investors and could support sustained price growth for XRP. The combination of whale accumulation and improved MCA trends suggests that XRP may be poised for a rebound, potentially overcoming the resistance levels that have hindered its progress.
With the U.S. Securities and Exchange Commission (SEC) already greenlighting spot Bitcoin and Ethereum ETFs, attention is now turning to the next wave of crypto-backed exchange-traded funds.
As crypto markets navigate another week of volatility and shifting sentiment, traders are increasingly turning their attention to emerging altcoins and high-momentum tokens.
A new milestone in cryptocurrency investment products is set to unfold this Wednesday, as REX Shares prepares to launch the first-ever U.S.-listed staked crypto exchange-traded fund (ETF), according to a company announcement shared on X.
XRP (XRP) has gone up by 1.2% in the past 24 hours but, behind that mild price increase, there has been a significant spike in trading volumes. During this period, $2.4 billion worth of XRP has exchanged hands, representing an 83% increase. Just hours ago, Ripple announced the official launch of its Ethereum-compatible sidechain called […]