Hot Features
Premium
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
XRP Struggles to Break Free from Bearish Channel Despite Recent Gains
XRP’s recent price performance has shown steady gains, with the token climbing by about 10% over the past week and 7% in the last month, pushing its value to around $3.02 at press time.
Despite this positive momentum, the asset continues to face a significant technical hurdle, as it remains confined within a bearish channel that has persisted since early August. Each attempt at a breakout has so far been capped at the channel’s upper boundary, preventing XRP from establishing a sustained upward rally. This pattern suggests that while investor sentiment has improved in the short term, a decisive move beyond the channel’s resistance level will be necessary to shift the broader market outlook from bearish to bullish.
Whales Inject $1.54B Into XRP, Signaling Strong Market Confidence
Whale activity has emerged as one of the most significant forces shaping XRP’s recent market dynamics. Between September 30 and October 3, large investors—commonly referred to as whales, with individual holdings ranging from 100 million to 1 billion XRP—collectively accumulated an additional 510 million XRP, representing an inflow of roughly $1.54 billion at current market prices. This surge in accumulation lifted their combined balances to an impressive 9.46 billion XRP, marking one of the highest levels on record. Such a concentrated increase in whale holdings signals strong confidence among deep-pocketed investors, often interpreted as a bullish indicator for the market. It not only reflects long-term conviction in XRP’s potential but also introduces heightened buying pressure that could play a decisive role in testing the token’s ongoing bearish structure and influencing its next price breakout attempt.
Short-Term Traders Boost XRP Momentum with Sharp Accumulation Spike
Alongside whale accumulation, smaller but active traders have also been steadily building their XRP positions, adding another layer of buying pressure to the market. Data reveals that short-term holders have grown increasingly active, with wallets in the one- to three-month holding range climbing from 10% to 11.83% of the total supply since early September. Even more striking is the surge in ultra-short-term traders: the 24-hour holding cohort jumped dramatically from 0.12% to 1.74% of supply within a single month. This sharp increase highlights a wave of speculative activity and quick-turnover trading, showing that momentum isn’t limited to deep-pocketed investors alone. Together, these short-term accumulators underscore a broader sentiment shift, suggesting that growing interest at both retail and mid-level tiers could amplify XRP’s price volatility as it approaches key resistance levels.
Conclusion
The recent surge in both whale and short-term trader accumulation paints a picture of mounting optimism in the XRP market, even as the token remains confined within a stubborn bearish channel. Large investors have injected billions of dollars’ worth of capital, while smaller cohorts are showing heightened activity, together creating significant buying pressure at a critical juncture. Yet, the decisive test lies ahead: XRP must break through the key resistance zone around $3.10 to escape the bearish structure that has capped rallies since August. Until then, the market sits on the edge of a potential shift, with the combined force of whale confidence and retail momentum setting the stage for XRP’s next major move.
Learn from market wizards: Books to take your trading to the next
