XRP Finds Traction Among New Investors, but $2.50 Still Remains A Challenge
XRP's recent recovery attempt was halted as it failed to secure the $2.50 resistance level. Despite renewed accumulation from both retail investors and whales, the token remains under pressure, trading at $2.40 above the $2.36 support. Whale activity saw over 320 million XRP accumulated, signaling long-term optimism. However, XRP faces challenges in maintaining momentum due to limited participation from retail traders. If the price falls below $2.36, it may slip further to $2.28, potentially extending its bearish phase.
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XRP's Recent Price Struggles
XRP’s recovery attempt was halted as the altcoin failed to break through the $2.50 level and sustain it as support. Following a brief surge, XRP’s price declined along with the broader crypto market over the past 24 hours. Despite renewed accumulation by major investors, the token continues to struggle with regaining upward momentum.
Revival of Investor Interest in XRP
Investor confidence in XRP is on the rise. Over the last 48 hours, the number of new investors surged by 226%, reaching 13,514. This significant increase suggests renewed confidence among retail participants who believe in XRP’s potential for a short-term reversal.
However, most inflows remain moderate, as heavy participation from retail traders is still lacking. Despite this, the steady rise in investor activity indicates a gradual improvement in market sentiment.
Whale Activity Signals Optimism
Large holders, or whales, have also exhibited renewed interest in XRP. In the past four days, addresses holding between 10 million and 100 million XRP accumulated over 320 million tokens (worth more than $768 million). This activity coincided with XRP's recent rebound attempt, demonstrating confidence among institutional investors.
Whale activity often correlates with future market recoveries. Their strategic accumulation reflects a long-term optimistic outlook on XRP, especially considering the token's relatively stable performance during recent market corrections.
Price Analysis and Key Levels
Currently, XRP’s price rests at $2.40, holding above the critical $2.36 support zone. The recurring challenge for the token lies in breaking through the $2.50 resistance, which has consistently capped its upside potential in recent weeks.
Failure to establish $2.50 as support has resulted in continued price volatility. However, the renewed whale accumulation and rising investor participation may trigger a rebound from $2.36, allowing XRP to retest the $2.50 level in upcoming sessions.
Risks of Bearish Momentum
If bullish momentum falters, XRP risks losing the $2.36 support level. A drop below this point could result in a decline to $2.28, which would invalidate the recovery outlook and prolong the bearish phase. Traders and investors should closely monitor the critical support levels to gauge XRP’s market trajectory.