XRP whales are showing no signs of slowing down, adding hundreds of millions of dollars worth of tokens in just days, even as a key technical pattern on the charts edges closer to a breakout.
XRP whales are showing no signs of slowing down, adding hundreds of millions of dollars worth of tokens in just days, even as a key technical pattern on the charts edges closer to a breakout.
Crypto analyst Ali Charts said on X that whales accumulated more than 470 million XRP in just five days, a stash worth around $724 million at current prices.
The steady buying comes even as the token has already seen a sharp run higher in recent weeks, suggesting large holders aren't done positioning yet.
Alongside the accumulation data, he pointed to a technical setup forming on the daily chart, an inverse head-and-shoulders pattern that he says continues to develop. Chart watchers typically view this formation as a reversal signal, and he said the bullish breakout could be getting closer as the pattern matures.
Related: Analyst says XRP could be ready for a big move
“An inverse head-and-shoulders continues to form on the daily chart. The bullish breakout could be getting closer,” the crypto analyst shared on X.
The setup builds on an earlier post from Ali Charts, who noted that XRP had rallied 27.6% from $1.25 to $1.58, a move that appeared to complete the right shoulder of the broader inverse head-and-shoulders formation.
He tied that price action directly to the more than $2 billion in whale accumulation reported earlier this month, framing the combination of chart structure and large-holder demand as a setup worth watching closely.
With the pattern nearing completion and whales continuing to add on a near-daily basis, traders are watching for a confirmed breakout above resistance.
If the inverse head-and-shoulders plays out as chartists expect, the next question becomes how far the move can run, and whether the accumulation seen over the past week is only the latest chapter in a much larger XRP story.
