The price of XRP has begun to show signs of recovery after weeks of downward pressure. Analysts are assessing its upside potential and the impact of increasing whale numbers on the market.
XRP has begun to regain ground after a prolonged period of bearish pressure. In the last 24 hours, the token rose more than 3% and is trading near $2,45, according to data from CoinGecko. This rebound in the cryptocurrency's price comes after hitting lows of $2,25 on October 17, its lowest level since July.
The recovery in XRP's price has sparked the interest of analysts who are now assessing whether the cryptocurrency is poised to reach a new yearly high.
The crypto market shows mixed signals
Since its peak of $3,66 in July, XRP has lost over 31% of its value. In the last seven days, the drop was 6%, dragging the cryptocurrency towards the $2,45 area. However, despite this pullback, some experts believe that the price of XRP could consolidate if it manages to overcome the Technical resistance between $2,70 and $2,80If this happens, the path to $3,00 would be open for the cryptocurrency, with the potential to reach new highs before the end of the year.
Source: CoinGecko
The crypto market, in general, presents a mixed picture today. While giants like Bitcoin and Ethereum are advancing up to 5%, other tokens like Ethena and Bittensor continue to correct, reflecting the sector's volatility.
Regarding XRP, opinions are divided. Some analysts warn that bearish market pressure could still drag its price below $2,00. However, some are confident that support around $2,40 could be a point of stability for Ripple's cryptocurrency.
XRP's recent surge of nearly 4% in a single day reinforces this optimistic outlook, although uncertainty remains. In other words, XRP's outlook largely depends on its ability to hold key support levels and overcome technical resistance in a macroeconomic context that could favor bullish momentum.
XRP whales are activated to accumulate
One of the indicators that has captured the market's attention recently is the number of XRP whales. According to data from Santiment, the number of addresses holding more than 10.000 tokens reached a all-time high of 317.500This increase coincides with the recent recovery in the cryptocurrency's price and has been interpreted as a sign of strategic accumulation by institutional investors and large holders.
For some analysts, the increase in crypto whales suggests a phase of early positioning in XRP, in which investors prepare for a possible rebound. This interpretation is supported by the cryptocurrency's technical performance, which has shown the ability to rebound from significant support levels. However, other experts warn that the growing concentration of tokens could imply market overexposure, which would increase the risk of abrupt corrections if a sell-off occurs.
The $2,70 to $2,80 zone has become a key reference point. If XRP manages to turn this resistance into support, the bullish momentum could consolidate. In that scenario, analysts project a sustained recovery that could take the token above $3,00. However, if the price fails to break above this barrier, the risk of a further decline remains.
Overall, XRP's performance is also influenced by external factors, such as the evolution of the crypto market and global macroeconomic conditions. Regulatory uncertainty, liquidity fluctuations, and investor sentiment remain key variables. In this context, whale accumulation could act as a catalyst, but also as a source of volatility.
What do XRP experts expect in the coming days?
The market is keeping a close eye on XRP's next moves. The recovery from the October lows has generated expectations, but also caution. Volatility remains, and analysts agree that the cryptocurrency is in a critical zone. Price behavior in the coming days could determine whether this rally becomes a sustained rally or a temporary correction.
According to analysts, everything will depend on whether XRP manages to consolidate above key technical levels. Breaking through the $2,80 resistance would boost optimism and pave the way for a stronger rally. But if the price fails to sustain and falls below $2,00, bearish pressure would intensify, paving the way for a possible deeper decline.
Factors such as increased whale activity, a historic technical rebound, and the influence of global macroeconomic conditions create a complex scenario. Although XRP has shown resilience, it continues to face significant challenges that could impact its performance. At this crucial juncture, the concentration in the hands of large investors can act both as a positive driver, driving accumulation, and as a factor that increases volatility.
Overall, XRP has shown some resilience, although it still needs to overcome significant hurdles to confirm a positive trend.
