- Whale accumulation of 60M XRP fuels speculation of a breakout above $3.42
- XRP price consolidates between $3.12–$3.15, reflecting trader indecision
- RSI and MACD trends suggest waning bullish momentum and rising bearish risk
XRP is grabbing headlines as large-scale investors, often referred to as “whales,” make significant moves in the market. According to analyst Ali Martinez, whales holding between 10 million and 100 million XRP tokens have purchased an estimated 60 million XRP in just the past 24 hours. This buying activity comes at a critical time, as XRP attempts to rebound after a brief correction, sparking speculation about a potential price breakout above the key resistance of $3.42.
Whales bought 60 million $XRP in the last 24 hours! pic.twitter.com/i9Nev76FHJ
— Ali (@ali_charts) July 29, 2025
The recent accumulation appears to be a strategic response to recent dips in XRP’s price, which saw a low of $3.06 earlier this week. Such movements have drawn attention to the increasing influence of whale behavior on XRP’s short-term market dynamics. With the current price hovering near $3.13, investors are watching closely to see if the momentum will build or fade.
Price Consolidation Reflects Market Uncertainty
Despite the recent buying pressure, XRP has entered a period of sideways movement, ranging between $3.12 and $3.15. This phase of consolidation suggests indecision among traders. Earlier in the day, XRP peaked near $3.17 but failed to sustain that level, facing consistent rejection around the $3.15 zone.
Support appears to be holding between $3.10 and $3.11, while the stronger floor lies at $3.06. These levels have helped stabilize the price during previous dips. However, the pattern of lower highs indicates that bearish sentiment still lingers in the background.
Volume also dipped slightly by 2.01%, reinforcing the view that market participants are taking a cautious stance. With the current volume-to-market cap ratio at 3.14%, trading activity remains moderate.
Technical Indicators Suggest Cooling Momentum
Technical signals paint a mixed picture. The MACD histogram currently shows a negative reading of -0.0522, suggesting that bearish momentum is still active. The MACD and Signal Lines also remain apart, hinting at a possible slowdown in the recent bullish trend.
Additionally, the Relative Strength Index (RSI) has dropped to 58.23 after previously touching the overbought level of 71.01. This decline signals that the rally may be losing steam. If the RSI continues to slide below 50, bearish pressure could intensify further.
Looking Ahead: Will XRP Break the Barrier?
As July 31 approaches, XRP’s short-term future hinges on its ability to clear the $3.15–$3.17 resistance zone. If it succeeds, a run toward $3.42 becomes more plausible. However, failure to break above this range could result in a drop toward the $3.06 support.
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