$XRP surges past $0.60 – How whales helped the rise - AMB Crypto Analytics

Ripple's XRP has recently surpassed key resistance levels, fueled by significant whale accumulation. Large holders have purchased around 500 million XRP in the last ten days, worth over $330 million. Santiment data shows XRP is now the second-highest trending cryptocurrency with over 55% positive sentiment, likely driven by a recent price rally.

XRP broke past resistance at $0.58 and $0.57, climbing over 7% in the past three days to trade around $0.65, its first retest since March. However, it remains uncertain if the token can sustain this momentum beyond $0.6, a historically challenging level.

Ripple's 30-day MVRV ratio surged from 3.7% to 12.53% in late September, indicating many holders, especially whales, are sitting on substantial profits. This spike hints at short-term overvaluation, suggesting a potential market correction may follow.