XRP Buoyed by 320M Whale Buys, Eyes $7 Expansion After $3 Dip
XRP fell over 6% to $3.00 after a $1 billion liquidation wave, marking its lowest level in a week. Despite record 24-hour volume topping $11.1 billion, renewed whale buying of 320 million XRP (around $1 billion) by large holders stabilised the price near $3.12. Crypto analysts say this marks the start of XRP’s expansion phase, with a $7 target based on chart structure and on-chain accumulation. A symmetrical triangle on the 4-hour chart shows a breakout retest at former resistance, often seen as a bullish setup. With broader risk assets under pressure and U.S. equities experiencing profit-taking, XRP’s key support level holds. Traders will watch for confirmation of the expansion setup and sustained institutional interest.
Bullish
Renewed whale accumulation of 320 million XRP reduces short-term selling pressure and signals strong institutional confidence. The technical breakout and retest of a symmetrical triangle on the 4-hour chart is a classic bullish pattern, suggesting momentum could drive XRP toward the $7 target. Historically, large on-chain purchases by major holders have preceded sustained uptrends, as smaller traders follow suit. In the short term, traders may see a bounce and consolidation around current support, while long-term prospects hinge on continued institutional inflows and broader market recovery in risk assets.