Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
XRP Market Surge: Nearly $1 Billion Snapped Up by Whales in One Week

XRP Market Surge: Nearly $1 Billion Snapped Up by Whales in One Week

BeInCryptoBeInCrypto2024/11/20 01:00
By:Aaryamann Shrivastava

XRP reaches a 3-year high, driven by whale activity and LTH confidence. Breaching $1.14 resistance is key for continued growth.

XRP has captured significant attention following its recent rally, which brought the altcoin to a 3-year high earlier this week.

Despite struggling to breach the $1.14 resistance, investor confidence remains high, providing much-needed support for further upward momentum.

XRP Whales Are Key

Whale addresses have shown strong conviction in XRP, accumulating nearly 900 million tokens over the past seven days. This influx, valued at approximately $1 billion, highlights the renewed interest from large wallet holders. Their activity has been instrumental in driving XRP’s recent 122% price surge, further reinforcing market confidence.

The whales’ accumulation trend suggests long-term bullish sentiment, aligning with XRP’s steady rise. This behavior also serves as a stabilizing factor, preventing abrupt price declines. As whales increase their holdings, XRP gains the backing needed to continue its upward trajectory.

XRP Market Surge: Nearly $1 Billion Snapped Up by Whales in One Week image 0XRP Whale Addresses. Source:  Santiment

Moreover, the age consumed metric for XRP shows no major spikes, which indicates long-term holders (LTHs) are refraining from moving their holdings. Typically, significant spikes in this metric imply profit-taking activity, which can negatively impact prices. The lack of such movements suggests that LTHs are confident about XRP’s future potential.

This stability among LTHs reinforces a bullish outlook for XRP. By holding onto their assets, these investors are signaling the belief they hold in sustained price increases, further solidifying the support level at $1.00. This conviction creates a favorable environment for the altcoin’s continued rally.

XRP Market Surge: Nearly $1 Billion Snapped Up by Whales in One Week image 1XRP Age Consumed. Source:  Santiment

XRP Price Prediction: Breaching Barriers

XRP’s price surged by 122% during the recent rally, but the altcoin remains trapped below the critical $1.14 resistance. Breaching this barrier is essential for XRP to continue its upward momentum and secure higher price levels.

If the bullish factors remain intact, XRP could rise past $1.14, paving the way for a move toward $1.28 and beyond. However, this depends on sustained whale activity and LTH conviction supporting the altcoin.

XRP Market Surge: Nearly $1 Billion Snapped Up by Whales in One Week image 2XRP Price Analysis. Source:  TradingView

Conversely, losing the support level at $0.99 would invalidate the bullish thesis. A drop below $1.00 could lead to a decline toward $0.87, pulling XRP further away from its recent highs.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Leveraging Bitcoin to Remotely Mine Dogecoin via SolMining: A Cost-Efficient and Sustainable Entry Point for Retail Investors

- SolMining, a UK-registered cloud mining platform, enables users to mine Dogecoin (DOGE) using Bitcoin (BTC) as collateral, eliminating hardware costs and technical barriers for retail investors. - Tiered contracts ($100-$55,000) offer flexible terms and guaranteed DOGE rewards, with BTC collateral returned upon expiration, ensuring liquidity and predictable returns. - The platform leverages renewable energy sources in data centers, reducing carbon footprints while aligning with global sustainability goal

ainvest2025/08/28 22:39
Leveraging Bitcoin to Remotely Mine Dogecoin via SolMining: A Cost-Efficient and Sustainable Entry Point for Retail Investors

Legal Risk Management in Crypto Ventures: The Pivotal Role of Law Firms in Shaping Liability and Regulatory Exposure

- Fenwick & West faces litigation as both defendant and legal advisor in FTX collapse, denying claims of enabling fraud through founder loans and token promotion. - The firm develops risk-mitigation frameworks like REBA to protect DAO participants, reflecting law firms' shift from reactive compliance to proactive crypto regulation. - SEC's 2025 guidance on crypto custody and mining contrasts with DOJ's criminal enforcement focus, creating dual compliance challenges for crypto firms. - DAO liability risks h

ainvest2025/08/28 22:39
Legal Risk Management in Crypto Ventures: The Pivotal Role of Law Firms in Shaping Liability and Regulatory Exposure

The 2025 Crypto Gold Rush: Uncovering High-Potential Tokens with Community Power and Strategic Alliances

- 2025 crypto success hinges on community-driven tokens with strategic partnerships, blending innovation and transparent growth. - Arctic Pablo Coin (APC) leads with deflationary mechanics, institutional audits, and 12,400% ROI potential via NFTs and DAO governance. - MoonBull ($MOBU) leverages Ethereum infrastructure and whitelist scarcity, offering Ethereum-grade security with AI-driven DeFi features. - Bitcoin Hyper ($HYPER) addresses Bitcoin's scalability via Solana's SVM, raising $12.5M with WBTC brid

ainvest2025/08/28 22:39
The 2025 Crypto Gold Rush: Uncovering High-Potential Tokens with Community Power and Strategic Alliances

Unlocking 2025's Meme Coin Gold Rush: A Strategic Guide to High-ROI Whitelist Opportunities

- 2025 meme coin market evolves from viral humor to technical competition, with $74.5B valuation driven by tokenomics, scarcity, and DeFi integration. - Whitelist projects like MoonBull ($MOBU) and Arctic Pablo Coin (APC) create urgency via exclusive access, deflationary mechanisms, and private staking rewards. - ROI hinges on structured tokenomics and blockchain utility, as seen in MoonBull's Ethereum staking and Pepe Coin's NFT partnerships. - High-risk factors persist, including pump-and-dump schemes, b

ainvest2025/08/28 22:39
Unlocking 2025's Meme Coin Gold Rush: A Strategic Guide to High-ROI Whitelist Opportunities