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- Whale deposits into Binance surge, highlighting strategic XRP moves amid growing market interest in a potential $10 milestone.
- XRP whales increase activity, transferring billions of tokens to exchanges as speculation around $10 gains momentum.
Recent amazing activity in XRP is marked by notable whale movements and important market reactions. With almost 2.66 billion XRP tokens sent to the exchange over the past 30 days, whale deposits into Binance peaked at a six-month high.
According to CryptoQuant’s most recent analysis, this represents the highest inflow by big holders since April 2024. With Binance acting as the hub for these trades, such activity points to higher involvement among significant XRP holders.
XRP Whales Seize Opportunities Amid Market Volatility
Fascinatingly, among this activity, crypto whales bought over 100 million XRP during recent market volatility. The decline below the $2 support level gave big investors a chance to build, maybe in expectation of a comeback.
Given XRP’s price has now returned to $2.42, which reflects a 10% increase within just one day, this confidence appears justified. The rally is ascribed to Ripple’s successful regulatory clearance of RLUSD, a new stablecoin meant to challenge big players like Tether’s USDT and Circle’s USDC, as we previously reported.
In a statement outlining this milestone, Ripple Labs CEO Brad Garlinghouse hinted at upcoming exchange listings and alliances meant to deepen XRP’s ecosystem.
Technical signs also point to XRP negotiating a crucial phase. At the former breakthrough point from 2021, a reaction was noted, shown on the chart represented by a green line.
Although the price momentarily challenged this level from above, experts think XRP might still be in wave three of its cycle and have the possibility for another high before notable market swings. For long-term investors particularly, Fibonacci support zones between $1.5 and $1.7 offer a safety net even if the price falls below this level.
Given XRP keeps vital support levels, the general view is still positive. Representing a 78.6% retracing of a recent surge, analysts stress the need of keeping above $1.99.
With the possibility for XRP to rise should these zones remain intact, extra supports at $2.20, $2.14, and $2.07 help to reinforce the bullish case. Should this situation come to pass, XRP’s fifth wave may indicate a big chance for investors since it might force the price into the $5 to $10 region.
Meanwhile, as of writing, XRP is swapped hands at about $2.43, up 1.58% over the last 24 hours and 273.06% over the last 30 days.
