📈 Whale Accumulation Intensifies: On-chain data reveals a surge in $XRP whale activity, with wallets holding 1M–100M XRP increasing their balances. This classic "buy the dip" strategy suggests whales are positioning for a bullish reversal, reflecting growing medium-to-long-term confidence in XRP.
🔑 Key Support Holds Strong: XRP has found solid support at $2.32, reinforced by the 50-day Moving Average at $1.59. Although the price struggles to break above the $2.46 Fibonacci retracement level, strong trading volume and reduced sell-side pressure suggest underlying bullish sentiment.
📊 MVRV Ratio Signals Reduced Sell Pressure: The 30-day MVRV ratio has dropped to 5.91%, signaling a decline in profit-taking activity by short-term holders. This metric aligns with the ongoing whale accumulation phase, further reducing the risk of sudden sell-offs.
💼 Market Sentiment Cautiously Optimistic: The combination of whale activity, key support stability, and reduced sell pressure indicates a potential for price recovery. However, breaking past the $2.46 resistance remains critical for a sustained bullish breakout.
🔥 Outlook: With solid support zones, rising whale confidence, and a drop in short-term selling pressure, XRP seems well-positioned for a potential rally in the coming weeks. Traders should watch the $2.46 resistance closely for confirmation of an upward move. 🚀📈
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