The price of XRP has increased by 14% over the past 7 days but is currently in an accumulation phase, trading steadily between $2.34 and $2.46 for the past 6 days. This range-bound phase reflects a balanced market sentiment, with neither bulls nor bears having a clear advantage.
The number of XRP 'whales' holding between 10 million and 100 million coins has also remained stable since the end of December, contributing to the neutral state of the market. However, if bullish momentum strengthens, XRP could break out of the current range and target important upcoming levels, with $2.72 and $2.90 as potential targets.
The RSI index of XRP is currently neutral.
The Relative Strength Index (RSI) of XRP is currently at 55.7, indicating a moderately active market phase. The RSI is a technical indicator that measures the speed and change of price movements on a scale from 0 to 100, helping traders determine whether an asset is overbought or oversold.
Values above 70 typically signal overbought conditions and the potential for a price correction, while values below 30 indicate oversold conditions and the possibility of a price recovery. The RSI of XRP, in the neutral zone since January 3, reflects a balance of buying and selling pressure.
Relative Strength Index (RSI) of XRP | Source: TradingView
At the current level, the RSI of XRP indicates an accumulation phase, with both bulls and bears not having a clear advantage. For bullish momentum to continue, the RSI needs to approach the overbought zone, reflecting stronger buying activity. Conversely, if the RSI starts to decline, this may signal weakening market sentiment and the potential for a slight correction.
XRP whales have maintained stability since the end of December 2024.
The number of XRP whales holding between 10 million and 100 million coins has seen significant fluctuations recently. After reaching a monthly high of 305 on December 7, this number dropped sharply to a monthly low of 292 on December 18.
Since then, this number has slightly recovered and stabilized at around 298, maintained from December 27 until now. Monitoring whale activity is crucial as these large investors can significantly influence market trends through their buying or selling decisions.
The number of addresses holding between 10 million and 100 million XRP | Source: Santiment
The stability in the number of whales over the past two weeks indicates an accumulation phase in the market. This may imply that large investors are neither accumulating strongly nor selling off significantly, reflecting a neutral sentiment.
For the XRP price, this stability may mean that price volatility will be limited in the short term, as the absence of large-scale movements from whales helps maintain price stability. However, an increase or decrease in whale activity could signal the start of a new trend.
XRP price forecast: Could it increase by 20%?
The price of XRP has accumulated over the past 6 days, trading in a narrow range between the resistance level of $2.53 and the support level of $2.33. This price behavior reflects a lack of clear momentum, with the market awaiting a decisive move.
If the $2.33 support level is tested and fails to hold, XRP may face deeper downward pressure, with the next support levels at $2.13 and $1.96.
XRP/USDT 4-hour chart | Source: TradingView
The EMA lines of XRP currently show uncertainty, with no clear directional signals. However, if bullish momentum returns, the price of XRP could test the resistance level of $2.53.
If a breakout is successful, the price of XRP could continue to rise, targeting levels of $2.72 and even $2.90, corresponding to a potential increase of 20.3%. The outcome will depend on whether the bulls or bears dominate in the coming days.
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