In the latest XRP news, Ripple whales have made a significant move, accumulating nearly 1 billion XRP coins as the crypto surged by over 25%. However, the bullish momentum appears to have stalled, with XRP now retreating from its recent highs. Let’s analyze the ongoing accumulation trend and its potential impact on XRP’s future price action.
XRP Whales Go on a Buying Spree
Renowned crypto analyst Ali Martinez recently highlighted the large-scale XRP accumulation, noting that major investors have purchased nearly 1 billion XRP. This whale activity coincided with XRP’s price surge, which pushed it close to the $3 mark. The aggressive buying spree initially fueled optimism among traders, but the excitement was short-lived.
Whales bought nearly 1 billion $XRP in the last 24 hours! pic.twitter.com/5KTdhjb0jg
— Ali (@ali_charts) March 3, 2025
XRP Price Retreats Amid Market Selloff
Despite the substantial whale accumulation, XRP has lost momentum, dropping by 13% to $2.31. Trading volume has also declined by 30% to $13.9 billion, signaling reduced investor enthusiasm. XRP’s 24-hour high and low were recorded at $2.7 and $2.23, respectively, while its Futures Open Interest plunged by 23% to $3.16 billion. These indicators suggest that market participants are growing increasingly cautious.
Why Is the Crypto Market Declining?
The recent downturn in the crypto market is largely attributed to macroeconomic concerns. The implementation of Trump tariffs on Mexico and Canada has added uncertainty, leading to a broader market selloff. Furthermore, while Donald Trump’s announcement regarding XRP’s potential inclusion in the US Crypto Reserve initially sparked bullish sentiment, it failed to sustain long-term momentum as investors capitalized on short-term gains.
Experts are closely watching key support levels for XRP to gauge its next move. According to Rose Premium Signals, maintaining the $2.40 level is crucial to preventing a further drop below $2. Meanwhile, EGRAG CRYPTO suggests that XRP could retest $2.3 and $2.2, with the latter being a critical support zone.
For XRP to regain upward momentum, it must hold above $2.2. While long-term sentiment remains positive, analysts warn that a continued bearish trend could push the price below $2. Investors should remain cautious amid ongoing market volatility.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: XRP Eyes Breakout as Triangle Pattern Forms – Can Bulls Push Past $3.05?
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