XRP Whales Accumulate Over 380 Million Tokens as Tom DeMark Buy Signal Flashes on Monthly Chart
Key Takeaways
- •Whale wallets have accumulated over 380 million XRP while the token trades near approximately $1.039.
- •The Tom DeMark Sequential indicator has produced a buy signal on XRP's monthly chart, a pattern that previously preceded a 1,074% rally starting in April 2020.
- •Nearly 3 billion XRP were transacted around the $1.06 resistance level, making it a focal point for short-term price discovery.
- •Traders identify a monthly close above $1.06 as a potential opening toward $1.35, with $1.64 cited as a further upside target.
- •Broader cryptocurrency market sentiment remains in the Fear zone, even as whale accumulation and technical signals draw increased attention from market participants.
As XRP trades near a critical resistance level, large holders have been quietly accumulating tokens, according to recent on-chain data. Wallets classified as whales have amassed over 380 million XRP, a move that comes as the asset hovers around key technical thresholds. XRP, the native token of the Ripple payment network used for cross-border settlements, has long attracted attention from institutional-scale holders, and whale accumulation patterns are frequently monitored by traders for insight into positioning by large participants.
Tom DeMark Sequential Flashes Buy Signal
The Tom DeMark Sequential indicator has produced a buy signal on XRP's monthly chart, a development that some traders interpret as a potential shift from bearish to bullish momentum. The indicator, developed by market analyst Tom DeMark, is designed to identify trend exhaustion and potential reversal points by counting consecutive price-bar patterns. Historically, this indicator has coincided with notable price reversals for XRP, including a 1,074% rally that began in April 2020.
XRP is currently trading at approximately $1.039. The buy signal emerges as market participants monitor price action for a potential breakout above nearby resistance.
On-Chain Activity Concentrated Near $1.06
On-chain data also reveals that nearly 3 billion XRP were transacted around the $1.06 resistance level. A monthly close above this mark is cited by traders as a level that could open the path toward $1.35, with some pointing to $1.64 as a further target. Elevated transaction volume near a specific price level is often interpreted by analysts as an area where significant buyer and seller interest converges, making it a focal point for short-term price discovery.
Market Sentiment Remained in Fear Territory
With broader market sentiment still reflecting Fear, as commonly tracked by the Crypto Fear & Greed Index, the combination of whale accumulation and the technical buy signal has drawn heightened attention from traders. Sentiment indicators in the Fear range have historically been associated with heightened investor caution, though some market participants view such conditions as periods where contrarian opportunities are evaluated. A sustained move above the $1.06 threshold is being watched as a potential indicator of broader market recovery.
XRP continues to trade near $1.039 as participants weigh these on-chain and technical signals against prevailing caution in the wider cryptocurrency market.