XRP Price Eye $2 Rebound as On-Chain Data Signals Massive Whale Accumulation

XRP price stabilized above $1.46 after bouncing from its weekly support level at $1.30 during recent volatility. The rebound came after a short dip, which tested the low-demand areas before buyers started controlling the momentum again.

The Ripple price has increased by over 8% in the last 24-hours, which is reflecting market strength in the broader cryptocurrency market. Since it hit a new low this month, XRP has since risen by nearly 20% as a sign of investor confidence.

XRP Price Surges as Bitcoin Nears $70k and Ethereum Tests $2,000

The total crypto market capitalization increased by over 5%, reaching approximately $2.37 trillion. Bitcoin price rallied toward $68,800, while Ethereum moved closer to the important resistance threshold near $2,000. The 24-hour trading volume of XRP increased by 26.69% to 3.53 billion.

Constant capital inflows to XRP-based exchange-traded funds also supported a bullish mood during the last few sessions. On February 24, SBI Ripple Asia collaborated with the DSRV Labs of South Korea in conducting research. 

XRP Ledger will be assessed by the collaboration to determine the feasibility of cross-border payments between Japan and Korea. This trend reinforced expectations of long-term utility since institutional adoption activity is on the increase.

Whale Buying Surges as BTC CVD Signals Explosive Demand

Today, Bitcoin market data points to a sharp surge in large-scale accumulation, according to analyst CW.New BTC CVD indicator readings indicate the presence of aggressive buying pressure in the recent sessions. CW observed that this wave of demand seems to be whale-driven.

The Cumulative Volume Delta indicator indicates a high imbalance between buyers and sellers. The existing statistics indicate that sell orders are continuously being overwhelmed by buy orders. CW termed the transition as an explosion buying that was centralized in high-volume purchasers.

Market structure, too, has changed towards the $70,000 mark. An earlier sell wall at that price has since disappeared. Meanwhile, the momentum of buying remains high in major exchanges.

XRP Price Eyes 36% Upside Amid Growing Buying Pressure

The XRP price recovered to $1.47 after rebounding firmly from support around the $1.40 level during recent trading sessions.  

Market participants returned with stronger buying interest as momentum indicators on the four-hour chart shifted decisively into positive territory.

The recovery was after a long consolidation period around the $1.50 resistance level, which the sellers had severally curtailed the upward moves.

The MACD confirmed the crossover was bullish, and the histogram bars shifted into sustained green momentum. The RSI had moved closer to the 70 level, indicating consolidating upside pressure without high extreme overbought levels.

According to analysts, a confirmed breakout above $1.50 may lead to increasing gains, and XRP may be tested against the $1.80 resistance area. Should the bullish momentum persist, an increasing trend towards the $2.00 level would be about a 36% increase on top of the $1.47.

On the other hand, failure to protect the $1.40 support area may subject the asset to another downside risk to the $1.30 area.