- XRP price is down 16% on the month.
- Ripple witnessed a significant uptick in accumulation by high-cap investors.
- A flip-and-hurdle of the $0.35 zone is needed to invalidate the bearish scenario.
XRP price shows bears in control of the trend. Still, high-cap investors seem almost certain of a countertrend spike in the coming weeks. This thesis remains neutral but identifies how to engage in a bearish and bullish scenario.
XRP price unaligned with investor sentiment
XRP price is subdued as the bears have revolted against the bullish countertrend rally established earlier in the month. On December 22, the digital remittance token was at a 16% loss of market value on the month. Ripple now stands 3% above a vital area of support. A second attempt at the weekly low of $0.332 could catalyze a more substantial decline.
XRP price currently auctions at $0.34. Despite the drawdown, high-cap investors seem persistently engaged with the digital remittance token and may even consider the declining price as a discounted offer. FXStreet's Crypto Analyst John Isige was the first to report a significant uptick in the accumulation of XRP tokens by investors with 1,000,000 to 10,000,000 XRP.
According to the analysis, "1617 addresses have purchased 7.23% of Ripple's entire network supply," the largest XRP tokens ever held by the group of whale investors.
Still, the technicals have yet to align with the whales' intention as the smaller time frames seem suppressed by a bearish stronghold near the $0.35 barrier. The XRP price will need to hurdle and consolidate above the aforementioned level to begin aiming for higher target zones. The broken support level at $0.44 has yet to be retested after being pierced during the first week of November. A retest at the barrier would result in a 30% rise from Ripple's current market value.
XRP/USDT 3-Day Chart
On the contrary, the earliest evidence that the high-cap investors are on the wrong side of the trade would be a breach below this week's low at $0.332. The bearish target zone would be the 2022 low at $0.287. The XRP price will decline by a minimum of 15% if the bears are successful.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Litecoin Price Prediction: LTC tries to retake $100 resistance as miners halt sell-off
Litecoin price grazed 105 mark on Monday, rebounding 22% from the one-month low of $87 recorded during last week’s market crash. On-chain data shows sell pressure among LTC miners has subsided. Is the bottom in?
Bitcoin fails to recover as Metaplanet buys the dip
Bitcoin price struggles around $95,000 after erasing gains from Friday’s relief rally over the weekend. Bitcoin’s weekly price chart posts the first major decline since President-elect Donald Trump’s win in November.
SEC Commissioner Hester Pierce sheds light on Ethereum ETF staking under new administration
In a Friday interview with Coinage, SEC Commissioner Hester Peirce discussed her optimism about upcoming regulatory changes as the agency transitions to new leadership under President Trump’s pick for new Chair, Paul Atkins.
Bitcoin dives 3% from its recent all-time high, is this the cycle top?
Bitcoin investors panicked after the Fed's hawkish rate cut decision, hitting the market with high selling pressure. Bitcoin's four-year market cycle pattern indicates that the recent correction could be temporary.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.