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Whales Accumulate XRP, Eyeing a Breakout to $3.16
XRP is trading at $2.87, up 2% over the past 24 hours. The growth came after whales accumulated 30 million tokens, while trading volume jumped 18% to $7.53 billion.
According to well-known crypto analyst Ali Martinez, large investors are preparing for an altcoin breakout. He also shared a 4-hour chart to support his forecast.
On the daily chart, XRP reached $3.16 — a resistance zone that prevented further upside. The price is currently just below the median of the 20-day Bollinger Band range, at $2.97.
The narrowing of the bands indicates declining volatility, a situation that often precedes a breakout. Whether the move will be up or down depends on XRP’s behavior within the $2.97–$3.16 range.
The accumulation/distribution line has started to flatten around 161.5 billion, signaling reduced demand, while the Chaikin oscillator at -3.694 billion reflects short-term outflows.
The Chande relative strength index is neutral at 55.11, leaving room for movement in either direction. Historical volatility has dropped to 34.55, suggesting consolidation before the next major swing.
From the bulls’ perspective, breaking through $2.97 and $3.16 would open the way to $3.70, especially if supported by rising accumulation/distribution levels and a positive Chaikin oscillator. On the other hand, failure to hold $2.77 could send the token down to $2.50 or even $2.30 if selling pressure accelerates.
See also: "Bitcoin: Price Holds Around $113K Amid Fed Rate Concerns"
