XRP Whale Accumulation and On-Chain Metrics Signal Rebound
Data on November 8 show a 42 million XRP whale accumulation off Gemini to private wallets, signaling a shift to long-term holding as exchange supply falls. XRP trades within a descending channel between $2.20 support and $2.65 resistance, with the RSI at 42 indicating mild oversold conditions.
Bullish on-chain metrics underpin the momentum. The Spot Taker Cumulative Volume Delta flipped positive, showing buyers outpace sellers. The NVT ratio dropped 30.7% to 75.93, reflecting rising transaction volume. Perpetual contract funding rates surged 247%, highlighting strong leveraged long positions. A break above $2.65 could target $3.12, while a breach below $2.20 may test lower levels. Traders should watch XRP whale accumulation, on-chain metrics, and funding rates for confirmation of a sustained rebound.
Bullish
The 42 million XRP whale accumulation off exchanges reduces available supply and points to long-term holding. Combined with a positive Spot Taker CVD, a 30.7% drop in the NVT ratio, and a 247% surge in funding rates, buy-side pressure is clearly rising. Mild oversold RSI conditions in the $2.20–$2.65 channel further support a potential rebound. In the short term, a break above $2.65 could trigger a rally toward $3.12, while long-term network health and institutional accumulation underpin sustained bullish momentum.