90M XRP on the Move as Token Secures $2.25 Mark in Unusual Whale Activity

Whale Alert identified 90M XRP moved to private wallets, fueling speculation about long-term accumulation. XRP remains steady at $2.25, sparking bullish predictions despite market uncertainty.

Whale Activity Sparks Interest in XRP Market

Thanks to a flurry of whale buying and selling, XRP has found support over the $2 mark again. Ninety tokens, with a combined value of almost $202.5 million, were sent to wallets that are still unknown within just thirty minutes.

Whale Alert has detected suspiciously big withdrawals, which has raised investor curiosity and fueled conjecture about the token's potential future price movement.

According to Whale Alert, there were two major XRP transfers that occurred recently. A newly established wallet was used to transfer the largest involved 50 million tokens, which were worth at over $112.5 million. Forty million tokens, valued at $90 million, were transmitted to an address that had just been activated in the second transaction.

XRP Whale Transfers Signal Institutional Accumulation

Investors are wondering if institutional investors or high-net-worth individuals are piling up Ripple because the destination wallets aren't connected to any known cryptocurrency exchanges.

As a result, more price action is anticipated. Former president Trump is secretly buying XRP and HBAR tokens, according to famous hedge fund manager Scott Melker.

Huge deposits to cryptocurrency exchanges from anonymous wallets are generally seen as a positive sign, according to crypto experts. Rather than selling their assets for a quick profit, the big holders, known as "whales," are putting them in cold storage, which usually indicates a long-term strategy. A bright future for the price of the cryptocurrency may be set up in this way. It is intriguing that the price is still going up, though, because reversal situations normally have reversal outcomes.

Ripple Court Updates Add to Market Speculation

Coinciding with the announcement of the deadlines for the opening and reply briefs by Ripple and its CEO, Brad Garlinghouse, a US appeals court has brought this development to light.

Although the cryptocurrency market as a whole and XRP in particular have been rather flat as of late, the token is still sitting on key support levels that may trigger a fresh upswing. The price of XRP has increased by 0.35 percent in the last 24 hours, and it is now trading at $2.25.

Resistance Levels Could Define XRP’s Path Forward

With important resistance levels between $3.62 and $4.30, Ripple may continue its ascent if the bulls maintain control. Prices could reach $5.73 if they break out of this area. Unfortunately, the RSI is at rest at 46, indicating that sellers are still in control and have limited the upward momentum. So, if we want to get back on the upswing, we need to see more purchasing pressure.

With the histogram bars going positive while still remaining in negative area, the Awesome Oscillator suggests a bullish divergence. This does seem to point to a potential reversal, but further purchasing pressure is required to cement the uptrend, Coingape reports.

Key Support Levels and Long-Term Investor Interest

Traders should keep an eye on the $2.20 level, as it is a significant support. If prices go below this, it can cause a panic and lead to more price drops.

Despite all of this doubt and potential negativity, institutional investors are still showing a lot of interest in this cryptocurrency, which bodes well for its future.