XRP Whales Go All-In with 520M Buy—Breakout or Fakeout?
Despite XRP dropping 6% to $2.28, whales are buying big. Over 520m XRP has been bought so far in this dump.
XRP has been inflowing all week, which is further evidence of this. CoinShares’ Head of Research, James Butterfill, revealed XRP had $11.2m in inflows this week, more than Solana’s $3m. YTD XRP has $116m in inflows, 4x Solana’s $29m.
This accumulation is happening at a good time as market participants are speculating on potential catalysts for XRP’s recovery.
XRP ETF and SEC Case Developments Fuel Optimism
Several macro events will impact XRP in the coming months. The CBOE just filed a 19b-4 with the SEC to launch an XRP ETF. 21Shares, Bitwise, WisdomTree and Canary Capital are behind this filing, which is good for XRP’s case of mainstream adoption.
Legal analysts also see the Ripple vs SEC case being resolved in 2025. Some think the SEC might drop some of the crypto cases under the new regulatory landscape which would be a big bullish catalyst for XRP.
With institutional demand increasing and regulatory clarity improving, XRP’s long term outlook is still good. But short term it still has technical challenges.
XRP/USD Technical Outlook – February 7, 2025
XRP is trading around $2.28. The 50-day EMA at $2.48 continues to act as dynamic resistance, reinforcing the downward trajectory. The prevailing trendline suggests that XRP may stay in a bearish zone as long as it remains below the $2.37 pivot point.
Immediate resistance stands at $2.37, with stronger barriers at $2.56 and $2.79. A breakout above these levels could trigger a bullish reversal, allowing XRP to reclaim higher ground. However, until this occurs, sellers appear to have control.
On the downside, immediate support is found at $2.20, with deeper levels at $1.97 and $1.76. A break below $2.20 could accelerate losses, exposing XRP to further downside pressure. Market sentiment remains cautious, with traders eyeing broader crypto trends and macroeconomic events.
With XRP still trading below the descending trendline, a clear break above $2.37 is needed to shift momentum in favor of buyers. Until then, bearish sentiment prevails.
Key Insights:
Whales accumulated over 520M XRP, reinforcing bullish sentiment.
XRP recorded $11.2M in weekly inflows, outpacing Solana.
Price remains bearish below $2.37; a breakout could target $2.56.
As institutional adoption grows and regulatory clarity improves, XRP’s long-term potential remains strong. However, technical resistance must be cleared for bullish momentum to resume.
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