XRP Price Stabilizes as Whale Holdings Hit Record Highs

XRP price has surged 17% in the last seven days and over 3% in the past 24 hours, reflecting strong recent performance. As the third-largest cryptocurrency behind Bitcoin (BTC) and Ethereum (ETH), XRP boasts a market capitalization nearing $185 billion.

Despite this growth, its trading volume has dropped 55% in the last 24 hours, now at $7.55 billion. This mixed activity highlights the importance of examining key indicators like RSI, whale movements, and EMA trends to assess the next potential price direction for XRP.

XRP RSI Has Been Neutral for 5 Days

XRP Relative Strength Index is currently at 52.3, holding a neutral stance since January 17, five days ago. For the past two days, the RSI has remained close to the 50 level, suggesting a balanced market with no strong buying or selling pressure.

This neutral reading implies XRP price is in a consolidation phase, where the price is neither trending upward nor downward significantly, awaiting potential catalysts to define its next move.

XRP RSI. Source: TradingView

The RSI is a widely used momentum indicator that evaluates the strength and speed of price changes on a scale from 0 to 100. An RSI below 30 signals oversold conditions, potentially indicating a price rebound, while an RSI above 70 suggests overbought levels and possible downward corrections.

With XRP’s RSI sitting at 52.3, the sentiment is neutral, showing no signs of excessive bullish or bearish activity. If the RSI begins to rise above 60 or drop below 40, it could indicate that momentum is shifting, potentially signaling the start of a new trend for XRP.

XRP Whales Are Reaching Its Highest Levels Ever

The number of XRP whales, defined as addresses holding between 1 million and 10 million XRP, has reached an all-time high of 2,083. This represents an important milestone in accumulation, as the count has been steadily rising since late December.

On December 21, there were 1,958 such addresses, highlighting a notable growth trend over the past month.

Addresses holding between 1 million and 10 million XRP. Source: Santiment

Tracking whale activity is crucial because these addresses often have the ability to influence market trends. Large accumulations by whales can indicate bullish sentiment, as their buying activity may reduce available supply and support price increases.

With the current whale count at its highest level ever, it suggests heightened interest and potential positioning ahead of a major market movement. If this trend continues, it could point to increasing demand and long-term confidence in XRP price.

XRP Price Prediction: Will It Correct by 26.8%?

XRP EMA lines remain bullish, with short-term lines positioned above long-term ones, signaling an overall upward trend. However, the lack of upward movement in recent days suggests a period of consolidation in the market.

This pause in momentum reflects a more balanced state, with neither buyers nor sellers currently dominating.

XRP Price Analysis. Source: TradingView

If XRP price can regain its uptrend, it may test the resistance at $3.40, a key level that could indicate renewed strength. Conversely, if the trend reverses, the price may first test the support at $2.82.

A break below this level could lead to further declines, with $2.60 and $2.32 as potential lower targets. Losing the $2.32 support would represent a significant 26.8% decrease.