By Nermeen Nabil Khear 
TLDR
- XRP price rebounded 11% to $2.17 after hitting the $2 range
- Whales accumulated 1.34 billion XRP worth $3.26 billion in the past week
- Price DAA Divergence shows a buy signal despite the recent 18% price dip
- XRP is trading at $2.45, holding above the $2.33 support level
- Analysts point to a potential 200% growth opportunity
XRP has finally shown signs of recovery after a period of decline. The cryptocurrency rebounded to $2.17 following positive news of technical adoption in South Korea. This price movement marks an 11% daily gain and has turned Ripple charts green for the first time in several days.
The recovery comes as a relief to investors who watched XRP fall to around $2 before the weekend. Despite this upward movement, the current price still represents a 30% decrease from early February levels. Many traders remain cautious about the sustainability of this recovery.
A key factor driving the recent price action is significant whale activity. Large holders with between 100 million and 1 billion XRP have added 1.34 billion tokens worth over $3.26 billion in just the past week. This massive accumulation suggests strong confidence in XRP’s future prospects.
These whales continued to hold through Monday’s 18% price crash. Their reluctance to sell indicates they may be positioning for longer-term gains rather than short-term profits. This buying behavior has helped establish $2 as a new baseline for the token.
Technical indicators also support a positive outlook. The Price DAA Divergence is currently showing a buy signal. This metric suggests more investors are holding their positions while fewer are selling, creating upward pressure on the price.
Market Analysis
Market volume for Ripple has decreased by 19%. While falling volume can sometimes indicate waning interest, in this case, it may suggest investors are willing to wait out the current market conditions rather than panic selling. This patience could help stabilize the price.
XRP is now trading at $2.45, maintaining position above the critical support level of $2.33. After facing weekend volatility, the token managed to stabilize with a 37% increase. This momentum suggests potential for further gains if the bullish trend continues.
However, XRP has not yet secured $2.70 as a support level. Breaking through this resistance could push the price toward $2.95, bringing it closer to previous highs. Failure to breach $2.70 might result in consolidation above $2.33 for a period.
The ongoing regulatory situation remains a concern for many XRP investors. Ripple’s case with the SEC continues to create uncertainty in the market. This regulatory overhang has prompted some investors to look for alternatives with clearer growth paths.
Some traders are diversifying into projects like DTX Exchange, which is currently in its final presale round. The project has attracted attention for its hybrid trading platform that allows users to trade multiple asset classes including cryptocurrencies and stocks.
DTX Exchange offers features such as an automated investment manager and copy trading capabilities. These tools help streamline the investment process by allowing users to follow strategies of experienced traders. The presale has already sold 60% of available tokens.
The excess supply of XRP remains a concern for trading experts. This large circulating supply could potentially limit price growth compared to tokens with more limited availability. Supply and demand dynamics will continue to influence XRP’s valuation.
Despite the recent price rebound, many long-term XRP supporters are questioning the stability of its growth potential. The 30% drop from February highs has shaken confidence, even as the current recovery provides some optimism to the market.
For XRP to continue its recovery, breaking the $2.70 resistance level will be crucial. This would establish a higher support level and potentially push the price toward the next resistance at $2.95. Strong whale support and positive technical signals provide a foundation for this scenario.
The coming weeks will be decisive for XRP as the market watches whether this recovery can be sustained or if further consolidation is needed before a stronger upward movement can take place.
The post XRP (XRP) Price: Recovery Reaches $2.45 as Whales Accumulate $3.2 Billion appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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