XRP price is currently rising above $3, supported by significant whale accumulation and strong key support levels, setting the stage for a potential climb to $4.
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Whales have increased XRP holdings, reducing selling pressure and supporting price stability.
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XRP must maintain critical support around $2.95 to sustain upward momentum toward $4.
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Network growth and new wallet creation on the XRP Ledger indicate growing demand and bullish sentiment.
XRP price surges above $3 amid whale accumulation and strong support levels. Discover key insights and what to watch next for a potential rise to $4.
How Are Whales Influencing XRP Price Above $3?
Whale accumulation is a major factor driving XRP’s recent price strength. Data shows entities holding between 10 million and 100 million XRP have increased their supply to 8.31 billion tokens, representing 14% of circulating XRP. This accumulation creates a price floor, reducing selling pressure and encouraging retail investors to buy, which supports the ongoing uptrend.
What Does XRP Ledger Network Growth Indicate?
The XRP Ledger has experienced a surge in new wallet creations, peaking at around 11,000 new addresses on July 18 and maintaining an average of 7,500 daily. This network growth reflects heightened demand and adoption. Additionally, XRP has gained over 30% against Bitcoin in the past month, signaling strong market interest and positive momentum.
What Key XRP Price Levels Must Hold Before Reaching $4?
Maintaining support above $2.95 is crucial for XRP to continue its upward trajectory. This level aligns with the monthly volume-weighted average price (VWAP) and the rolling VWAP, acting as a strong demand zone. Analysts warn that a drop below $2.80 could jeopardize the bullish structure, while breaking resistance at $3.3 may trigger fresh highs.
What Are the Technical Targets for XRP’s Next Rally?
Technical analysis points to a Wave 3 target near $3.82, based on Fibonacci extensions. Analyst CasiTrades highlights $3 as critical support and $3.3 as resistance to watch. Elliott Wave analysis suggests XRP is entering the most profitable phase, wave ③, potentially propelling the price to $4 soon. Veteran trader Peter Brandt identifies a rare continuation pattern that could drive XRP to $4.47.
Why Is Whale Accumulation Critical for XRP’s Price Stability?
Whale accumulation reduces selling pressure and builds a strong price foundation. Large holders controlling significant XRP amounts create a steady demand that supports price floors. This dynamic encourages smaller investors to enter the market, reinforcing bullish momentum and signaling confidence in XRP’s long-term prospects.
Frequently Asked Questions
How does whale accumulation affect XRP price stability?
Whale accumulation reduces selling pressure by holding large XRP amounts, creating a price floor that encourages retail investors and supports upward price movement.
What are the critical price levels for XRP to watch?
XRP needs to hold above $2.95 support and surpass $3.3 resistance to continue its bullish trend toward $4 and beyond.
Key Takeaways
- Whale accumulation: Large holders are increasing XRP supply, supporting price floors.
- Support levels: Maintaining $2.95 is essential for sustained upward momentum.
- Network growth: Rising new wallet creation signals increasing demand and adoption.
Conclusion
XRP’s price recovery above $3 is underpinned by significant whale accumulation and strong support levels. Maintaining these levels is critical for a potential rise to $4, supported by growing network activity and positive technical indicators. COINOTAG will continue monitoring developments to provide timely insights for investors.
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XRP price is gaining momentum as whales accumulate tokens above $3, signaling strong market confidence.
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Key support levels near $2.95 are crucial for sustaining the bullish trend toward $4.
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COINOTAG analysis highlights network growth and technical patterns that support further price gains.
XRP price climbs above $3 with whale accumulation and strong support. Learn key levels and market insights to watch for a $4 target.
Whale Accumulation Drives XRP Price Strength
Whales holding between 10 million and 100 million XRP have increased their holdings to a monthly high of 8.31 billion tokens, representing 14% of circulating supply. This accumulation reduces selling pressure and creates a price floor, encouraging retail investors to enter the market and support price gains.
Network Growth Signals Rising Demand
The XRP Ledger has seen a surge in new wallet creations, peaking at 11,000 on July 18 and averaging 7,500 daily since. This growth reflects increased demand and adoption, with XRP gaining over 30% against Bitcoin in the last 30 days, indicating strong market interest.
Critical Support Levels to Watch Before $4
XRP price bounced off a key demand zone above $3 on June 25, with the $2.95 level aligning with monthly VWAP and RVWAP. Analysts warn that a drop below $2.80 could threaten the bullish structure, while breaking the $3.3 resistance could trigger fresh highs toward $4.
Technical Targets and Patterns
Wave 3 targets near $3.82 and Elliott Wave analysis suggest XRP is entering a profitable phase, potentially reaching $4 soon. Veteran trader Peter Brandt identifies a rare continuation pattern that could push XRP to $4.47, supported by whale accumulation and positive market sentiment.
Conclusion
XRP’s price recovery is supported by whale accumulation, strong support levels, and growing network activity. Maintaining these factors is essential for a potential rise to $4. COINOTAG will continue providing expert analysis to guide investors through market developments.
