XRP Surges Over 5% Amid Whale Accumulation, Eyes $3.10 Rally
XRP surged over 5% to trade near $2.56 after major holders withdrew 18 million tokens from exchanges, driving on-chain trading volume to $3.62 billion. On the 4-hour chart, the token broke a descending trend line and triggered green Supertrend and bullish TD Sequential signals, confirming sustained bullish momentum. Exchange reserves have dropped by about 3% since early October, indicating long-term buying interest.
Key resistance lies at $2.67. A successful break could open the door to a 23% rally toward $3.10. Support around $2.40 will be crucial to maintain the uptrend. Traders should watch volume spikes, technical indicators, and on-chain metrics for entry points.
Beyond technicals, Ripple’s expansion into traditional markets and a potential $1 billion IPO by a Ripple-backed firm are drawing institutional interest. Positive market sentiment, buoyed by US-China rare earth mineral talks and Ethereum’s recovery, adds further tailwinds for XRP. However, traders should factor in market volatility and evolving regulatory risks when positioning for short-term gains or longer-term holds.
Bullish
Strong whale accumulation and declining exchange reserves point to tightening XRP supply and elevated buying pressure. The breakout above a descending trend line, alongside bullish Supertrend and TD Sequential signals, supports near-term upside toward $3.10. Rising on-chain trading volume further validates momentum. In the long term, Ripple’s push into traditional markets and the prospect of a $1 billion IPO bolster institutional demand, underpinning sustained growth. Traders should monitor key support at $2.40 and remain aware of regulatory developments that could affect price stability.