In an intriguing twist for the crypto world, XRP is back in the news as it closes in on the coveted $3 price level. The rally is supported not on hype but on a collection of actual market indicators: whale wallet buying, reducing exchange supply, and a technical configuration that indicates bullish energy.
Whale Wallets Signal Confidence
Perhaps the most significant indicator of XRP’s current trajectory is the record increase in whale wallets. Recent blockchain statistics have shown that more than 317,500 wallets contain at least 10,000 XRP—a record level of accumulation. This increase in large investor and mid-size holder holdings points to increasing optimism in XRP’s long-term prospects, particularly as regulatory clarity regarding Ripple’s business continues to enhance.
Exchange Supply Drops Sharply
Another bullish signal is the sharp decline in XRP’s supply on centralized exchanges. Over the past month, the percentage of XRP held on exchanges has dropped from 6.12% to just 3.9%. This reduction in readily available tokens suggests that holders are moving their assets to cold storage, reducing sell pressure and hinting at expectations of future price appreciation.
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XRP Targets to $3 Milestone
Technically speaking, XRP just bounced back to $2.43, up 13% from its last month’s low of $2.18. Experts are closely monitoring the resistance zone of $2.59, a traditional pivot point. A strong close above $2.65 on the 3-day chart could confirm a breakout pattern, potentially leading XRP to the $3 mark.
Whale sales are still a risk.
Even with the bullish signals, all whale traffic is not bullish. Some of the big holders have supposedly sold as much as $50 million of XRP daily, creating short-term volatility. The selling has caused brief drops below $3 in the past few weeks, and experts warn that a drop below $2.59 could induce a correction downward to $2.20.
Long-Term Outlook Remains Positive
Although short-term volatility is anticipated, the long-term prognosis for XRP is buoyant. The combination of whale accumulation, lower exchange supply, and overall positive sentiment regarding Ripple’s legal position provides a solid foundation for long-term growth. Should XRP be able to keep pace and breach key points of resistance, the $3 target may not only be a psychological barrier—it can be a stepping stone to even higher levels.
