XRP is drawing increased attention as large investors continue to accumulate the token near a critical resistance zone. On-chain analysis indicates that addresses known as whales have acquire
XRP is drawing increased attention as large investors continue to accumulate the token near a critical resistance zone. On-chain analysis indicates that addresses known as whales have acquired more than 380 million XRP, reflecting growing confidence at current price points.
Technical indicators are also hinting at a potential reversal. The Tom DeMark Sequential, a tool often used to spot upcoming trend shifts, has shown a buy signal on XRP’s monthly time frame. This indicator previously highlighted a significant rally in April 2020, when XRP surged over 1,000% after a similar signal appeared.
Currently, XRP is trading around $1.039. Analysts are closely observing whether a breakout is imminent, with the buy signal intensifying discussion about a possible bullish phase.
On-chain data reveals particularly high activity just below the $1.06 resistance, with nearly 3 billion XRP transacted at this level. If XRP secures a monthly close above $1.06, analysts believe price targets of $1.35 and possibly $1.64 become more attainable in the short-to-medium term.
Despite ongoing fear in the broader crypto sector, signs such as ongoing whale accumulation and the Tom DeMark Sequential buy signal are fuelling cautious optimism for XRP’s prospects.
With the market still dominated by fearful sentiment, the confluence of whale buying and a technical buy signal is weighing heavily on traders’ decisions, as they await signs of a sustainable move above resistance.
As the token continues to test the critical $1.06 threshold, the result may play a pivotal role in determining its next direction. At last check, XRP remained near $1.039, highlighting the uncertainty but also heightened interest among both short and long-term participants.
In such fast-moving conditions, effective market monitoring becomes essential. Tools like CryptoAppsy, which requires no account creation hassle, combine portfolio management with real-time prices, multi-currency tracking, and advanced charting on a single platform. By enabling users to set custom price alerts, filter news for specific coins, and receive macroeconomic data like Federal Reserve interest rates, this all-in-one financial assistant can help traders seize timely opportunities and stay informed about critical developments, especially around key moments such as resistance tests in assets like XRP.
The post XRP whales accumulate 380 million tokens as buy signal emerges near $1.06 appeared first on COINTURK NEWS.
