- Whale accumulation highlights institutional confidence despite XRP price volatility.
- Elliott Wave analysis signals potential breakout with support at $2.80
- ETF filing reflects XRP’s growing role in mainstream financial markets.
Whale investors have increased their XRP holdings sharply in recent weeks. According to Santiment data, whale addresses holding between 10 million and 100 million XRP added 340 million coins over two weeks.
The chart showed a link between this accumulation and price changes, highlighting active participation from large holders. Analyst Ali Martinez reported that these inflows reflect rising confidence among institutional players.
XRP’s daily chart displayed an Elliott Wave corrective structure labeled A-B-C-D-E. Prices consolidated within this pattern, with support emerging near $2.80. Analysts said the final wave (E) is close to completing along the long-term trendline. This setup suggests that the correction period may be nearing its end.
Technical Indicators Point Toward Breakout Potential
The Relative Strength Index (RSI) registered 41.85, signaling that XRP is approaching oversold territory. If buyers increase activity, this reading could strengthen the case for a rebound. Market watchers noted that a successful move above current support could target the $3.40 to $3.80 range.
However, analysts also warned that failing to hold the $2.80 level could send prices lower. A breakdown might expose XRP to a downside test near $2.50. Traders continue to track these technical levels closely to confirm the next direction.
ETF Filing Highlights Expanding Institutional Demand
In parallel with market accumulation, AmplifyETFs submitted an application to the U.S. Securities and Exchange Commission for an XRP Option Income ETF. The firm manages $12.6 billion in assets and has a history of creating income-focused products.
Analysts suggested that approval could improve liquidity and broaden access for new investors. Some, however, cautioned that regulatory challenges might slow the process.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
