SUI Nears Critical Support While XRP Whales Accumulate — What Comes Next?

Sean Williams
SUI Network

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  • SUI is pressing toward a critical liquidity pocket near $1.32.
  • Network TVL on Sui continues to rise despite price weakness.
  • XRP whale accumulation suggests growing long-term confidence.

SUI and XRP are sending very different signals as the crypto market enters the final days of January. SUI is slipping into a technically sensitive zone after renewed selling pressure, while XRP remains quiet on price but is seeing a notable increase in whale accumulation. Together, the data paints a picture of a market split between short-term caution and long-term positioning.

SUI Slides Toward Key Support as Selling Pressure Builds

SUI is trading near $1.34 after dropping roughly 5.8% over the past 24 hours. Market capitalization currently stands around $5.12 billion, while the fully diluted valuation sits much higher at approximately $13.5 billion, reflecting a large portion of tokens still outside circulation.

Technical analysts are watching SUI’s position near the lower boundary of a descending channel on the two-day chart. This area has acted as support in previous tests, and some traders believe buyers are beginning to accumulate as price approaches the trendline.

If the level holds, analysts suggest SUI could attempt a recovery toward the $4 region over time. However, failure to defend the structure would likely open the door to further downside.

Also Read: XRP ETFs Spike $7M as Dogecoin Hits Critical Support — What Traders Must Know

RSI Breakdown Puts Focus on $1.32 Liquidity Pocket

Momentum indicators are flashing caution. SUI recently broke below a trendline on the RSI, accompanied by rising volume and increased selling activity. According to market observers, price is now pressing toward a liquidity pocket just below $1.32.

This narrow zone is seen as the first area where a meaningful reaction could occur. A bounce would require stronger volume and renewed buying interest. Without it, downside extension remains possible.

Derivatives data shows mixed sentiment. Trading volume is up more than 11% to about $913 million, while open interest has slipped 1.34% to roughly $724 million. Funding rates near 0.0043% suggest a neutral stance among leveraged traders.

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.

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