- XRP price trades near $2.63 after a 13% rally from mid-October lows
- Whale accounts are selling into the rally, creating resistance near $2.82
- Analysts map a decade-long breakout pattern with speculative targets up to $589
XRP has rallied 13% in recent days, climbing from mid-October lows to trade around $2.63. Market data suggests that large holders, or whales, are selling into this rally. This distribution worries traders who are watching both short-term corrections and long-term breakout patterns forming on XRP’s charts.
Related: XRP Regression Model Signals Major Upside; Breakout Above $2.76 Key
Whales Trim Holdings as Price Nears Key Resistance
Data from Ali Charts, shared by analyst Ali Martinez, reveals that addresses holding between 1 million and 10 million XRP have collectively offloaded over 140 million tokens during the recent upswing. This distribution indicates that whales are locking in profits as retail traders drive prices higher.
This action creates a divergence between XRP’s price and whale holdings, which often signals selling pressure ahead. Martinez noted that key resistance remains near $2.82, while short-term support lies close to $2.53. If whale selling continues, XRP could dip below $2.50 before finding new buying momentum.
A move where accumulation resumes above $2.70 could reignite a strong continuation rally, confirming the next phase of the uptrend. Despite the pressure, momentum indicators remain positive, which suggests short-term weakness may precede another upward push.
Related: XRP Price Prediction: $60M Outflows and $1B Treasury Push XRP Toward Key Breakout
Analysts See “Violent” Breakout Potential
Another market analyst, Amonyx, described the current setup as the beginning of XRP’s “violent phase.” The coin recently broke above a decade-long ascending channel. This technical event previously preceded its historic rallies in 2017 and 2021.
According to Amonyx, the weekly chart structure points to potential resistance targets at $7.88, $17.57, and $58.9. The analyst offered a speculative long-term extension toward $170 to $589 if the breakout sustains. Amonyx emphasized that the relative strength index (RSI) now mirrors conditions seen during earlier euphoric surges, which often preceded parabolic expansions.
While short-term corrections may occur due to whale activity, the broader setup points to a potential macro bull phase if XRP maintains its breakout above historical resistance zones.
Ripple Expands Academic Research as Network Grows
In parallel, Ripple advanced its University Blockchain Research Initiative (UBRI), forming an Academic Advisory Council to coordinate global blockchain research. The council, joined by Ripple CTO David Schwartz, includes leading academics studying zero-knowledge proofs, AI-integrated systems, and quantum-resilient cryptography.
Additionally, the company renewed $1.5 million in grants to support UBRI projects through Ripple USD (RLUSD). This coordinated push strengthens the ecosystem behind XRPL and aligns with Ripple’s broader vision to integrate academic insight into blockchain infrastructure.
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Source: https://coinedition.com/xrp-tests-2-82-today-as-whales-trim-140-million-breakout-path-forms-above-3-10/
