- XRP’s market cap surged to $140.1B, overtaking Charles Schwab and reclaiming its position as the third largest cryptocurrency by market cap.
- Whale activity fuels XRP’s rally, with 360M XRP gained in 48 hours and over $1B unlocked from escrow in early January.
- XRP faces resistance at $2.50 and $2.80 but maintains bullish momentum, supported by rising RSI and MACD indicators since December.
XRP’s market capitalization recently surged to $140.1 billion, surpassing financial giant Charles Schwab, which stood at $135.16 billion at press time. This follows XRP’s jump over Tether to reclaim the third largest cryptocurrency position by market cap.
The resurgence is a turnaround for XRP, which has faced challenges due to the SEC’s lawsuit against Ripple. Market confidence has grown, driven by expectations of XRP’s broader adoption in financial sectors, including potential ETFs.
Whale Accumulation Fuels XRP Momentum
Whale activity has played an important role in XRP’s rally. Analyst Ali reports that whales acquired 360 million XRP within 48 hours. This aggressive buying aligns with XRP’s rising movement, showing strong confidence among large holders.
Furthermore, on January 1st, Whale Alert reported that 500 million XRP worth over $1 billion was unlocked from escrow. These movements indicate increased activity among influential market participants, supporting XRP’s bullish momentum.
Key Support and Resistance Levels
At the time of writing, XRP was trading at $2.44, a 2.23% increase in the last 24 hours. Price trends show a clear short term uptrend with higher highs and lows since December 23, 2024.
Resistance zones at $2.50 have posed challenges, as indicated by the rejection at these levels. However, historical resistance at $2.80 remains a key target for bullish traders. Support is at $2.20, acting as the base for the recent rally.
If bearish pressure increases, $2.00 could be the fallback level. On the 4-hour timeframe, a decline in recent volume near $2.46 suggests temporary hesitation among buyers. However, a breakout above this resistance could fuel further gains.
Indicators Confirm Sustained Bullish Momentum
The RSI is at 68.06, nearing overbought level, which could lead to short-term consolidation. The MACD line remains above the signal line, with a widening histogram suggesting sustained bullish strength since late December.
Around this time, the XRP price regained, supported by increased accumulation by large holders and bullish market sentiment. The MACD crossover in December 26 confirmed the start of the rally, with further bullish signals emerging. With increased trading activity and whale activity, XRP’s claim as the third largest cryptocurrency by market cap highlights its resilience in the crypto market.