- Despite 60M XRP being acquired, the price declined by 3.1%, signaling uncertainty amid bearish momentum.
- Toncoin (TON) is stabilizing near $4, with whale interest suggesting potential future bullish movement.
- XRP’s RSI near oversold levels hints at a possible reversal, while TON faces selling pressure but may rebound if buyers push past $3.70.
In a significant market development, large investors have acquired 60 million XRP tokens within the past 24 hours. This accumulation follows a period of price fluctuations, prompting speculation about potential market movements , with some traders expressing concerns about regulatory uncertainty.
Whale accumulation typically reduces circulating supply, potentially driving price appreciation but for XRP the price has seen decline of 3.1% currently trading at $2.56 for the last 24 hours.
XRP’s Market Struggles, but a Bullish Breakout Could Be on the Horizon
Total market activity shows limited price changes although it could trigger upcoming gains for these assets. The 4-hour chart shows a positive cup and handle pattern developing.An upward movement of the price seems likely to occur in the near future according to this indicator.
The current technical indicators for XRP present a mixed but slightly bearish outlook. The MACD line at -218.8 million and the signal line at 1.37 billion, indicating strong bearish momentum.
The RSI currently shows 37.07 but this value indicates an upcoming oversold scenario while its signal line rests at 51.55.This indicates that while XRP is experiencing selling pressure, it is nearing a potential reversal zone where buyers could step in if the RSI drops closer to or below 30.
Toncoin Eyes Breakout Amid Consolidation
Market movements in XRP could have effects on other digital assets, including Toncoin (TON). Currently, Toncoin (TON) has entered a critical phase as the cryptocurrency consolidates near the $4 mark amidst significant whale accumulation and declining volatility.Despite present price consolidation, this significant acquisition by big holders points to increasing institutional confidence in TON’s long-term prospects.
Toncoin (TON) maintains a market value of $3.63 while experiencing a 4.3% decrease in price during the previous 24 hours. Its trading scale extends from $3.62 to $3.85 which signifies active market volatility .However, if buyers regain control and push the price above $3.70, the token could retest $3.85 and possibly $4.00 in a bullish scenario.Whale activities indicate possible price rebounds despite ongoing market uncertainty and strong resistance barriers for XRP and TON.
