XRP Consolidates in Symmetrical Triangle; Whale Accumulation Raises Speculation for Potential Breakout

  • XRP is compressing within a symmetrical triangle pattern indicating strong market interest and strategic whale accumulation.

  • Recent on-chain analytics suggest that large holders are positioning themselves for a significant upward trend.

  • “The continued accumulation by larger wallets reflects growing confidence in the long-term potential of XRP,” a report from COINOTAG noted.

This article explores XRP’s technical consolidation, whale accumulation behavior, and future price targets as market dynamics shift.

XRP consolidates within a technical formation

As of the latest trading session, XRP has shown a price of $2.18, situated near the lower bounds of a well-established symmetrical triangle on the daily chart.

This triangular formation is a significant indicator, often suggesting either a continuation of the current trend or a reversal, largely dependent on the breakout direction.

Key price levels have repeatedly reacted at both the support and resistance lines, indicating the market is tightening as it approaches the apex of the formation, often a precursor to a major directional move.

XRP symmetrical triangle formation

Source: TradingView

The critical support area ranging from $2.00 to $2.11 has shown significant strength historically, bolstered by notable volume nodes evident in the Volume Profile Visible Range (VRVP).

As XRP moves closer to this vital support level amidst waning volatility, bulls are possibly positioning for a bullish rebound.

Price targets contingent on a breakout

In the event that XRP breaks above its descending resistance trendline, immediate price objectives include $2.60, $2.84, $3.00, $3.21, and ultimately $3.40.

These potential targets are consistent with key Fibonacci retracement levels as well as previous price action clusters. Additionally, the Relative Strength Index (RSI) indicates that XRP is not currently overbought, suggesting there is ample room for continued upward movement.

Conversely, should XRP fail to maintain support around $2.00, downside risks may surface, with subsequent support levels potentially located near $1.77 and $1.60.

On-chain data reflects whale confidence

Recent analyses drawn from Santiment’s on-chain data highlight an increase in accumulation by substantial holders, particularly wallets containing between 1,000 and 10,000,000 XRP throughout the first quarter of 2025.

The accumulation graph showcases a consistent upward trend, particularly within the 10,000-100,000 XRP and 1,000,000-10,000,000 XRP categories.

Interestingly, addresses holding 1 billion or more XRP have shown a renewed interest, with notable spikes around March 29th.

XRP whales accumulation

Source: Santiment

This pattern of strategic accumulation during price pullbacks indicates a growing confidence among high-conviction market participants.

Historically, such accumulation phases often precede notable price movements, especially when they coincide with technical consolidation zones.

Final thoughts

The current price structure of XRP combined with the behavior of large holders suggests that the cryptocurrency is poised for a significant breakout; however, the timing remains uncertain. A clear movement above the symmetrical triangle’s resistance could potentially catalyze price actions targeting the $3 mark or above.

In the meantime, XRP traders and investors are advised to carefully monitor the $2.00 support area and observe volume trends to gauge the market’s directional bias.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Ark Invest Boosts Holdings in Robinhood and 3iQ Solana Staking ETF While Reducing Bitcoin ETF Position

On April 22, COINOTAG reported significant movements by **Cathie...

Galaxy Digital Shifts 5,000 ETH to Binance: Weekly Total Reaches 65,280 ETH

COINOTAG News, April 22nd – Recent data analysis from...

Movement Network Foundation Takes Action Against Market Maker Misconduct Involving MOVE Token

The Movement Network Foundation has initiated an investigation into...

Paul S. Atkins Takes Charge as SEC Chairman: Key Changes Ahead for Digital Asset Regulation

On April 22nd, the U.S. Securities and Exchange Commission...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img