The recent movement in the XRP price, together with both on-chain data analysis and technical indicators, reveals that an unusual turning point has been entered. Long-term accumulation trends, technical compression, and change in market structure indicate that XRP may enter a strong transition in price behavior in the near future.
Intense Accumulation of Large Investors Attracts Attention
Data on the XRP network shows that both individual investors and large portfolio holders are reshaping their positions. According to the latest analysis, long-term purchases stand out in XRP beyond short-term fluctuations. Referring to the on-chain information provided by Santiment, analyst Chad Steingraber stated that wallets holding at least 10 million XRP have accumulated a total of 45.83 billion XRP, which corresponds to approximately 68.5% of the circulating supply. This level is defined as the highest concentration reached since 2018.
Chad Steingraber stated that at the current stage, XRP whales have reached an 8-year peak, whale wallets hold approximately 45.83 billion XRP, indicating a significant accumulation.
In light of these developments, it is observed that large investors continue to buy when the XRP price is around $1.50, while smaller investors reduce their risks. CryptoAppsy According to data, XRP is trading at $ 1,445 as of the time the news was written and has decreased by 1.96% in the last 24 hours.
Technical Analysis: 8-Year Çanak Formation Highlights Ascension Targets
Market analysts point to a broad bowl and handle formation on XRP’s price chart that has been forming for almost 8 years. In the technical evaluation made by ChartNerdTA, it is stated that while the bowl part is completed, the handle formation is taking shape just below historical resistance levels. Fibonacci projections, which stand out in the long term, show that targets of $ 8 and above may be technically possible in case of a permanent break.
According to experts, $0.89 (0.5 Fibonacci zone) stands out as critical support, while accumulation continues in the $1.40-$1.50 region. On the resistance side, the $1.60–$1.70 range is followed.
ChartNerdTA suggested that if the long-term formation is completed, there may be a potential for XRP to reach levels above $ 8, and pointed out that a multi-year expansion process could begin with the breaking of the current consolidation.
Differences in Price Behavior and Market Perception
On the short-term outlook, XRP continues to test resistance around $1.50 by remaining above EMA50. Recent technical analysis reveals that the price is moving in an ascending widening wedge formation after breaking the downward channel upwards. This structure may pave the way for increased volatility in the market.
Although all technical indicators are positive, there are different opinions in the community regarding whale accumulation. While some investors believe that large purchases will be the precursor to the rise, others point to the risk of centralization and the possible selling pressure that will follow.
Market participants think that, in addition to litigation and regulatory discussions, the technical structure will be more decisive in the short term. As long as persistence above critical levels is achieved, bullish targets will continue to maintain their vitality.
