XRP Whales Accumulate $170M as Price Holds Key Zone
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XRP is currently trading within a critical support and accumulation zone between $1.35 and $1.40, a level that has historically attracted significant buying interest. Recent on-chain data reveals that large holders, or whales, have withdrawn approximately $170 million worth of XRP from Binance over the past few days. This substantial outflow suggests accumulation rather than distribution, as tokens are moved into private wallets, reducing available supply on exchanges and potentially easing selling pressure.
From a technical perspective, the $1.35-$1.40 region has served as a strong support level, with multiple tests holding firm. The combination of whale accumulation and price stability at this zone indicates that large investors view current prices as undervalued. If this support continues to hold, XRP could target the next resistance near $1.60. However, failure to maintain this level might lead to a retest of lower supports around $1.20.
Overall, the market sentiment for XRP is cautiously bullish in the short term, driven by whale activity and technical resilience. Investors should monitor exchange flows and volume for confirmation of a breakout.
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