Key Insights
- XRP price gained 2% on May 7, supported by optimism around U.S.-China trade talks. Holding the $2.08 support level is crucial for sustained recovery.
- Whale accumulation signals strengthen bullish momentum.
- Analysts emphasize maintaining the $1.83–$2.00 support zone to sustain upward momentum.
Whale Activity Fuels XRP Price Optimism
Technical indicators suggest XRP’s recent gains reflect more than short-term market sentiment:
- Whale accumulation: Addresses holding 1M–10M XRP now control 9.44% of the supply, up 1.2% since January 1 (Santiment).
- Underscores confidence: Large holders continue buying during dips, mitigating sell pressure and building a foundation for price stability.
👉 Why XRP whales are betting big on this key level
Derivatives Market Sentiment
- Open Interest (OI): Rose 0.32% to $3.65B, indicating slight improvement in trader confidence.
- Trading volume: Fell 17% to $3.9B, reflecting cautious sentiment as traders await a clearer trend.
Critical Price Levels for XRP’s $4 Target
Technical Breakdown:
Immediate Support:
- $2.08 (200-day SMA): Rebound on May 6 validated this level.
- Below this, next support lies at $1.90 (Dom, X platform).
Key Resistance:
- $2.12: Must be reclaimed to confirm a short-term trend reversal.
Analyst Perspectives:
- Egrag Crypto: "XRP must not close below $1.83."
- XForceGlobal: "As long as $1.60 (April low) holds, XRP remains bullish."
FAQs
Q: What drives XRP’s current price rally?
A: Macroeconomic optimism (U.S.-China talks) and whale accumulation are key catalysts.
Q: Can XRP reach $4 in May?
A: Possible if it holds $1.83–$2.00 support and breaks above $2.12 resistance.
Q: Why is whale activity significant?
A: Large holders absorbing sell pressure signals long-term confidence, reducing volatility risks.
👉 How to track XRP whale movements for trading signals
Conclusion
XRP’s path to $4 hinges on defending critical support levels while overcoming near-term resistance. Monitor whale trends and macroeconomic developments for directional cues.
Disclaimer: This analysis is for informational purposes only. Conduct independent research before investing.
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