Ripple (XRP) price has been under considerable pressure recently, driven by bearish technical indicators and legal challenges. Despite a recent decline, some signs hint that the selling pressure could be easing, as indicated by a recovery in RSI levels.

However, XRP whales remain cautious, showing little change in their holdings, suggesting uncertainty about a strong price surge. For now, XRP’s future hinges on whether it can overcome resistance levels and gather bullish momentum.

XRP Whales Are Still Not Convinced

The number of wallets holding between 10 million and 100 million XRP has shown little fluctuation since October 9. Currently, there are 285 such wallets, and the count has remained within a narrow range of 284 to 287 over the past week.

This consistency suggests that these large holders, or “whales,” are taking a cautious stance and are not making significant moves either into or out of their positions.

Read more: Everything You Need To Know About Ripple vs SEC

This metric is crucial because whale activity often provides insights into market sentiment. Whales have the power to move markets, and their buying or selling decisions can be strong signals for upcoming trends.

The stable count of these large wallets implies that these major players are not yet convinced that XRP is ready for a significant price surge. Until whales start accumulating more aggressively, a strong upward move for XRP seems less likely.

Ripple’s DMI Shows a Potential Uptrend

Ripple’s Directional Movement Index (DMI) chart currently shows the positive directional line (D+) at 27.9, the negative directional line (D-) at 12.6, and the ADX a

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Author: Tiago Amaral