XRP price crashes 5%: Should you buy XRP immediately during the whale accumulation?

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According to on-chain data analysis provided by Santiment, XRP whale investors (holding 100 million to 1 billion tokens) have accumulated over 860 million XRP this week, valued at over $2 billion. In the ongoing bullish outlook, XRP whales have consistently accumulated more XRP.

With the support of Ripple and its strong business model, XRP has recently regained interest. Additionally, under the incoming Trump administration, the ongoing lawsuit between Ripple and the SEC is likely to be dismissed.

On Wednesday, Ripple Labs launched the fiat-backed RLUSD stablecoin, which has received strong support from centralized exchanges and DeFi protocols. The launch of RLUSD will significantly enhance XRP's liquidity and strengthen the company's cross-border payment capabilities.

From a technical analysis perspective, on the daily timeframe, XRP price has broken out of the bullish triangle flag formed over the past two weeks. Due to the potential inverted head and shoulders (H&S) formation, XRP price is likely to bounce back above the historical high of $3.4 in the short term. However, consistently closing below $2 in the coming weeks will invalidate the bullish sentiment and prolong the ongoing market correction.

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