Large XRP investors, also known as whales, have accumulated 1.08 billion tokens, valued at $3 billion at current market prices.
Despite this, the cryptocurrency’s price remained stable, reflecting the current significant bearish bias.
Ripple developments fail to excite XRP bulls
According to Santiment, whale addresses holding between 100,000 and 1 million XRP collectively acquired 1.08 billion tokens today (9). This brought the group’s total holdings to 10.41 billion XRP, the highest since June 2024.
This surge in whale accumulation comes amid positive developments within the Ripple ecosystem. These include the recent integration with Chainlink, Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty’s dinner with pro-crypto President-elect Donald Trump, and Ripple Chairwoman Monica Long’s recent interview in which she confirmed that an XRP exchange-traded fund (ETF) could materialize soon.
XRP Supply Distribution. Source: TradingView
However, despite this significant activity, XRP’s reaction has remained subdued, with its price remaining sideways. Technical indicators assessed on a four-hour chart confirm the bearish sentiment that continues to hinder the token’s upward move.
First, its Balance of Power (BoP) is below 1, at -0.04 at the time of publishing this analysis. This indicator measures the strength of buyers versus sellers when analyzing price movements within a specific period.
When its value is negative, it indicates that sellers are dominating the market, signaling bearish sentiment and downward pressure on the price.
XRP Balance of Power. Fonte: TradingView
Furthermore, XRP’s negative Chaikin Money Flow (CMF) supports this bearish outlook. Currently, this indicator, which tracks the flow of money into and out of the asset, is at -0.09.
When an asset's CMF is negative, it indicates that selling pressure exceeds buying pressure, reflecting the bearish momentum of the market.
XRP CMF. Fonte: TradingView
Price Prediction: Key Levels to Watch
According to the Fibonacci Retracement tool, XRP’s bearish pressure may intensify. The altcoin’s price may test the support at $1.99.
If the level does not hold, the price will extend towards $1.88.
XRP Chart on TradingView
However, if whales continue to accumulate, driving a widespread resumption in XRP buying activity, its price could rise to $2.45, invalidating this bearish projection.
The article XRP Loses Momentum: Can Whales Start a New Jump? appeared first on BeInCrypto.
