XRP Tests $2 Resistance as Ethereum Whales Accumulate Millions of ETH
XRP has formed higher lows after recent pullbacks and is approaching a long-standing resistance zone around $1.95–$2.00; a sustained break above that range would signal a bullish shift in structure. Analysts note strong buyer interest around $1.80–$1.82, which limited downside and produced a higher low. Meanwhile, Ethereum whales have heavily accumulated since late November, adding roughly 4.8 million ETH (about 4% of circulating supply), lifting whale-held balances from 22.4M to 27.2M ETH and producing roughly $4.8 billion in paper gains at current prices. ETH dominance recovered from 11.5% to 13% while price traded in a $3,000–$3,500 range. Risks remain: Ethereum’s estimated leverage ratio (ELR) rose to a six-month high (2,964), signaling elevated leveraged positions that could amplify liquidations if macro catalysts fade. Also, growing institutional interest in US spot Ethereum ETFs may support medium-term demand and price stability. For traders: monitor XRP’s $1.95–$2.00 breakout or rejection for short-term bias, and track ETH whale accumulation, ELR levels and ETF flows for signals of sustained upside or a leveraged-driven pullback.
Bullish
The news shows two constructive developments: XRP forming higher lows and approaching a decisive resistance zone, and substantial Ethereum whale accumulation that increased ETH dominance and removed supply from circulation. Both factors are typically bullish — an XRP breakout above $1.95–$2.00 would confirm a market-structure shift, and continued whale buying reduces available sell-side liquidity for ETH. Additionally, growing institutional interest in spot ETH ETFs is a potential medium-term demand driver. Offsetting risks include elevated leverage on Ethereum (ELR at a six-month high) which increases vulnerability to liquidations and sharp pullbacks if macro conditions worsen. For traders, the immediate implication is cautiously bullish: favor long bias on confirmed XRP breakout and monitor ETH whale flows and ELR to manage risk, using stops to protect against leveraged-driven reversals. Historical parallels: previous episodes where whales accumulated large ETH positions and ETF-related inflows supported multi-week rallies, but spikes in leverage preceded abrupt corrections, so risk management remains essential.