Large XRP investors, often called whales, have added 1.08 billion tokens valued at $3 billion during Thursday’s early Asian session. This brings their total holdings to a yearly high of 10.41 billion XRP, the most significant accumulation since June 2024. Despite this bullish activity, XRP’s price remains rangebound, signaling persistent bearish sentiment in the market.
Ripple’s Positive Developments Struggle to Energize XRP
Santiment reports that whale addresses holding between 100 million and 1 billion XRP have significantly boosted their holdings. This surge coincides with positive news from Ripple’s ecosystem:
- Ripple recently integrated with Chainlink.
- CEO Brad Garlinghouse and CLO Stuart Alderoty dined with pro-crypto President-elect Donald Trump.
- Ripple President Monica Long hinted at a potential XRP exchange-traded fund (ETF) in a recent interview.
However, these developments have yet to ignite bullish momentum for XRP. The token’s price remains stagnant, showing no signs of breaking out from its current range.
Bearish Indicators Weigh on XRP Price
On the four-hour chart, XRP’s technical indicators reveal a bearish outlook:
- Balance of Power (BoP): Currently at -0.04, this metric shows sellers dominating the market.
- Chaikin Money Flow (CMF): Negative at -0.09, reflecting more money flowing out of XRP than into it.
These indicators suggest that bearish sentiment is keeping XRP prices under pressure, despite increased whale activity.
XRP Price Prediction: Key Levels to Watch
If bearish momentum continues, XRP’s price may test the $1.99 support level. A failure to hold this level could push the price further down to $1.88.
On the upside, sustained whale accumulation and increased market-wide buying pressure could drive XRP’s price to $2.45, invalidating the bearish projection.
