XRP has been trading in a restricted range in recent days, consolidating after successfully staying above the critical support level at $2.10. As one of the standout performers this cycle, XRP saw a massive surge following the US elections, catching the attention of investors. However, recent price action has introduced uncertainty, leaving some investors concerned about the possibility of further declines.

Despite these concerns, chain data suggests a different narrative. Santiment’s statistics show that whales have accumulated another 40 million XRP in the last 24 hours. This significant accumulation indicates that Shrewd Money may be preparing for the growth to come. Historically, such whale activity has preceded major price movements, providing a bullish signal to long-term holders.

XRP’s ability to hold the $2.10 support level amid market volatility shows resilience, but the next decisive move will depend on whether bulls manage to capitalize on this accumulation phase. If the buying momentum continues and XRP breaks out of its current range, there could be a move towards recent highs.

XRP continues to signal strength

XRP continues to show resilience, trading above key support levels and attracting investors who see its long-term potential. Despite a significant 30% pullback from recent highs, XRP has held its ground, maintaining critical support zones that strengthen the bullish outlook. This stability inspires confidence among market participants, with many seeing the altcoin as a top contender for future growth.

Most recently top analyst Ali Martinez highlighted the compelling data from Santiwhich shows that whales have added another 40 million XRP to their holdings in the last 24 hours. This is consistent with the broader trend of consistent whale accumulation, a phenomenon often considered an indicator of clever money positioning when there is a significant market move. Such activity suggests that institutional and high-net-worth investors expect better performance from XRP in the coming months.

The continued interest in XRP is due to its ability to remain high despite recent corrections and broader market uncertainty. Holding above key support levels not only reflects technical strength, but also highlights investor confidence in the potential for significant growth.

As whale accumulation continues and sentiment shifts, XRP is well positioned to capitalize on the positive momentum. A break above resistance levels could signal the beginning of a massive rally, strengthening its leadership position among altcoins in the current cycle.

Technical Analysis: Key Levels to Watch

XRP is currently trading at $2.22 after successfully testing the 4-hour moving average (MA) and exponential moving average (EMA) at $1.96 a few days ago. The rebound of critical support levels highlights XRP’s near-term strength, strengthening its bullish momentum. MA and EMA are widely considered key indicators for assessing asset health, and XRP’s ability to stay above them signals powerful demand at lower levels.

Maintaining support above $2.13 in the coming days is crucial to maintain this momentum. If XRP continues to trade above this level, it would strengthen investor confidence and pave the way for a potential test of resistance at $2.40. A break above $2.40 would likely spark additional buying interest, potentially steering XRP towards recent highs as broader market sentiment improves.

On the other hand, a loss of support at $2.13 could introduce short-term weakness, leading to a retest of lower levels near the MA and EMA. However, as long as XRP maintains its overall structure above these moving averages, the bullish narrative will remain intact and the altcoin can continue to attract clever money positioning for the next rally.

Featured image from Dall-E, chart from TradingView