- XRP has declined again after a slight rebound in the last trading session.
- Whales remained in the accumulation mode despite price decline.
Ripple’s [XRP] recent price decline has caught the attention of large investors, with on-chain data revealing significant whale accumulation.
Coupled with a neutral MVRV ratio and stabilization at key support levels, these developments suggest a potential bullish reversal for the token.
Ripple whale accumulation in full swing
The Whale Holdings Distribution chart shows a steady increase in Ripple‘s balances among large holders. Analysis of wallets holding 1 million to 100 million XRP indicates an increase in accumulation.
This accumulation phase intensified as XRP’s price faced downward pressure, reflecting a classic “buy the dip” strategy among major investors.
Source: Santiment
Historically, whale accumulation during market downturns has often signaled upcoming price recoveries. Large holders tend to position themselves strategically, anticipating significant bullish reversals.
The current trend highlights growing confidence in XRP’s medium-to-long-term recovery.
Key support levels provide stability
Ripple’s price has found strong support at $2.32, bolstered by the 50-day Moving Average at $1.59, as shown in the XRP Price chart.
Despite struggling to break above the $2.46 Fibonacci retracement level, the token’s ability to maintain its position above key moving averages reflects underlying bullish sentiment.
