XRP Approaches $1.5 Amid Signs of Reduced Whale Selling and Chart Support

XRP is trading close to $1 as signs emerge that selling pressure from large holders is waning and technical charts highlight potential gains toward $1.5 and beyond. Recent data points to strengthening support levels and diminished exchange inflows, prompting renewed trader interest.

Technical Indicators Point to Rising Price Levels

Market analyst EGRAG CRYPTO shared a long-term chart highlighting a triple-bottom pattern for XRP based on the 21, 77, and 111 exponential moving averages (EMAs). These moving averages have historically marked key lows for XRP during previous market cycles. Currently, the chart shows a developing third bottom between $0.90 and $1.00, aligning with established long-term support zones.

The analyst outlined key resistance points, including $1.23 and $1.56, as important markers to watch. Breaching these could signal improving market structure. If momentum continues, Fibonacci targets ranging from $2.38 up to $31.65 are noted, though these depend on XRP completing a full breakout pattern. The analyst emphasized this chart is not a forecast but a reference for what could unfold based on past cycle behavior.

Whale Activity on Binance Declines Significantly

Another market observer, Darkfost, analyzed CryptoQuant data revealing a sharp decrease in XRP inflows to Binance by large holders. Earlier in the cycle, inflows peaked at 583 million XRP, valued at approximately $1.36 billion. This figure has now dropped drastically to 25.3 million XRP, worth around $23 million, indicating reduced selling pressure from whales.

This decline in deposit volume supports the view that bearish momentum might be easing. The shift could allow XRP to maintain its current price level and potentially push higher if buying interest escalates.

XRP's current trading pattern and reduced whale selling coincide with broader trends seen in the market, although investors remain cautious. As prices hover near $1, levels like $1.13 and $1.22 are viewed as intermediate targets before a possible surge toward the $1.50 mark.

Material presented is for informational purposes only and does not constitute financial advice.