- Whales scooped up over 130M XRP as price hovered near the $3.00 support zone.
- Analysts eye a potential wave 3 rally toward $3.82, backed by strong Fibonacci setups.
- Despite lower trading volume, long positions still dominate, hinting at bullish sentiment.
XRP’s price action has been choppy, but whales? They’re buying like it’s going outta style. Over 130 million XRP changed hands as the token dipped toward the $3.00 support level. This all went down just as Nature’s Miracle dropped a $20M XRP treasury program, which might’ve helped keep sentiment from totally tanking.
Even though XRP took a crack at $3.21 resistance, it didn’t quite stick—price slid back down to $3.00 before settling somewhere near $3.14. Technical folks say we might’ve just wrapped up a wave 2 correction, lining up nicely with the 0.854 Fibonacci zone… which, if you believe the charts, could set us up for a bigger move soon.
Wave 3 in Sight? $3.82 Could Be Next
If XRP can hang on above $3.00, we might be looking at a clean wave 3 rally. That $3.82 mark? It’s tied to a Fibonacci 2.618 extension—and it also happens to echo XRP’s old highs. Some analysts, like CasiTrades, say this alignment boosts confidence that we’re on the edge of a new uptrend.
But if the token slips below $3.00? That setup might fall apart—at least for now. Still, between the whale action and this strong support area, the bulls are holding on tight. Everyone’s watching to see if momentum kicks back in or fizzles out.
Whales Load Up While Activity Dips
Here’s the weird part: despite that bullish accumulation, market activity actually cooled off. Coinglass reports a 37% drop in trading volume (now around $15.4B), with open interest also slipping nearly 6%. It’s a quiet tape, even though big wallets are clearly still in play.
Digging deeper, options volume and open interest dropped off a cliff—like, 75% and 95% down. But here’s the twist: long positions still dominate across platforms. On Binance, the long/short ratio was a beefy 2.82. OKX showed 2.08. So, even if volume’s down, the traders left in the room are betting up.
Sentiment on Edge—But Support Holds… for Now
Broad market sentiment feels kinda mixed. The global long/short ratio sits around 0.908, so it’s not a clear bull run just yet. But the fact that whales are loading up, paired with solid support holding at $3, has folks hopeful.
As of now, XRP’s sitting at $3.14, down just a bit—about 1.4% over the last day. Oh, and yep—Chris Larsen reportedly moved $175M in XRP to exchanges. That probably added some downward pressure too. But with whales still hungry and a possible breakout setup forming, this might just be the calm before another leg up.
