- A whale bought 130M XRP on Binance, leading to sudden price movements and high trading activity.
- XRP’s price hit $2.5872 before dropping back to $2.4498, showing strong market uncertainty.
- Analyst Vincent Van Code highlighted the purchase, which caused traders to watch key support and resistance levels closely.
A whale purchase of 130 million XRP tokens on Binance within an hour sparked major price swings in the market. The transaction drove XRP’s price to a 24-hour high of $2.5872, but it soon dropped back to $2.4498. This accumulation occurred for the second time in just a few hours, which raised speculation among analysts and traders about the intentions behind these moves.
XRP’s volatility was accompanied by a surge in trading volume, reaching 614.47 million XRP during the period. Binance data also reported XRP’s 24-hour low of $2.3333, reflecting the quick retracement after the whale activity. Although the purchase triggered upward momentum, selling pressure soon pushed prices lower, creating an uncertain outlook for the asset.
Market Metrics Reveal Key Levels
XRP’s technical indicators highlighted the rapid price movement. The 7-day moving average (MA) showed $2.478, indicating a short-term increase, while the 99-day MA at $2.4137 provided a key support zone during the price dip.
Additionally, the Relative Strength Index (RSI) stood at 40.78, signaling that XRP approached oversold conditions after the retracement. The movement also aligned with a volume peak of 33.503 million XRP, showing strong market participation during the whale purchase.
These price levels remain critical as analysts assess whether XRP will maintain support or face additional downward pressure. Traders are watching closely for signs of stability or a potential test of resistance at $2.5872.
Analyst Highlights Sudden Whale Activity
Prominent crypto analyst Vincent Van Code flagged the unusual whale transaction on social media.
Source: Vincent Van Code
The post received attention, reaching 222.2K views and sparking discussions among traders. One user suggested the whale purchase could be linked to the upcoming RLUSD launch, which has created growing market anticipation.
Traders Monitor XRP Support and Resistance
XRP’s price now hovers around $2.41, which aligns with the 99-day moving average, making it a key support level. Traders are monitoring whether the token can hold this position or face further declines. Resistance at $2.5872 remains a barrier for any upward movement.
The whale activity has placed XRP under the spotlight, with investors watching closely for potential volatility in the coming days. As analysts continue to track trading patterns, the market remains focused on XRP’s next move.
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