Whale accumulation offsets selling pressure, but resistance weighs on momentum
XRP is trading at $2.82 after rebounding from session lows near $2.65, with price action consolidating into a symmetrical triangle pattern below the $3.00 mark. While whale accumulation has helped stabilize short-term sentiment, institutional liquidations have capped momentum, keeping upside attempts limited by heavy resistance zones.
The 4-hour chart highlights XRP’s symmetrical triangle formation, with price making higher lows from the $2.65 support zone but struggling to push past the $2.95–$3.00 resistance barrier.
Key levels to watch include:
- Support zone: $2.65–$2.70 (green band)
- Immediate resistance: $2.95–$3.00
- Breakout confirmation: $3.30 (red band)
- Major supply zone: $3.45–$3.60
Traders note that a decisive move above $3.30 could confirm bullish continuation, potentially driving XRP toward the $3.45–$3.60 supply area. Conversely, failure to hold $2.65 may drag price back toward $2.40–$2.50.
Despite short-term selling pressure from institutional players, on-chain data signals steady whale accumulation. Large addresses have absorbed recent dips, adding liquidity and preventing deeper breakdowns.
According to BITX market analysts: “Whale wallets continue to build positions below $3.00, which has helped XRP stabilize. But institutional liquidations are creating a tug-of-war, keeping price locked in a consolidation zone.”
If bulls can secure a close above $3.30, momentum could shift sharply upward. However, as long as XRP trades inside the symmetrical triangle, short-term volatility is expected with both buyers and sellers defending their zones aggressively.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.