-
XRP has emerged as a standout performer in the crypto market, surging by 297% against Bitcoin since November, fueled by increased whale accumulation.
-
The substantial rise in the number of large wallet holders indicates growing investor confidence and interest in XRP, even amidst market stagnation.
-
“Investors are clearly positioning themselves for potential future gains,” said a spokesperson from COINOTAG, reflecting the overall bullish sentiment surrounding XRP.
Ripple’s XRP outperforms Bitcoin with a remarkable 297% gain driven by whale activity, signaling strong investor sentiment and future growth potential.
Whale and Shark Wallets Are Growing
One of the most significant trends supporting Ripple’s price action is the increase in large wallet holdings. Data from Santiment revealed that wallets containing at least 100K XRP have surged by +0.8% since early December. This accumulation suggests that key stakeholders are positioning for potential future gains, reinforcing bullish sentiment around the asset.
Source: Santiment
XRP’s Performance Against Bitcoin
Analysis of the XRP/BTC chart reveals that XRP has significantly outpaced Bitcoin over the last 14 weeks, contrasting sharply with the broader crypto market, where most assets have seen lackluster price action. This resilience alongside continuous accumulation by significant holders raises the prospect of sustained momentum, particularly if Bitcoin remains range-bound.
Is XRP Overextended?
As of the latest market data, XRP was trading at $2.6881, indicating a 1.81% decline for the day but still on a weekly uptrend. The 50-day Moving Average (MA) stands at $2.6778, while the 200-day MA was positioned at $2.3202—indicating a bullish trend structure. However, analysis via Bollinger Bands suggests it is approaching its upper limit, pointing to potential short-term volatility.
Source: TradingView
At the time of writing, the Accumulation/Distribution (A/D) metric is observed at 5.98 billion, indicating ongoing buying pressure despite minor corrections. Should this buying trend persist, XRP could sustain its bullish trajectory with a potential target nearing $3.00 in the upcoming weeks.
What’s Next for XRP?
The market will closely monitor whether large XRP holders continue their accumulation trends or start distribution. If the trend of growing large wallets persists, XRP could maintain its upward momentum. Conversely, a slowdown in whale activity or increased selling pressure could lead to a potential corrective move towards key support levels around $2.35.
Given XRP’s significant resilience, investors should be attentive to whale wallet movements and the broader BTC market conditions, as these factors will likely play a crucial role in determining its next major move.
Conclusion
In summary, XRP’s 297% growth against Bitcoin reflects considerable confidence among large investors. While technical analysis indicates potential volatility, the strong buying sentiment from whales keeps the outlook bullish. For the future, continuous monitoring of large wallet activities and market conditions will be essential for gauging XRP’s price trajectory.
