XRP Whales on the Move: Is a $2.35 Breakout Inevitable?

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  • Mysterious whale transfers, lower NVT, and Spot Taker CVD dominance suggest revived XRP interest.
  • The altcoin trades near descending resistance at $2.35, while the SRSI hovers in overbought territory.

🐳 Attention, crypto enthusiasts! 50 million Ripple [XRP] worth over $113 million have been transferred between unknown wallets, and it’s got everyone talking. 💸

Such large-scale, anonymous transactions often signal potential strategic positioning, particularly by whales. 🐳 Having said that, the movement stoked speculation about behind-the-scenes accumulation.

Can a 44% plunge in transactions revive XRP?

Ripple’s Network Value to Transactions (NVT) ratio plummeted by 44.23% in the past 24 hours, dropping to 433.1. 📉

This steep drop reflected surging transaction volumes versus market capitalization. 📈

Of course, a lower NVT Ratio typically suggests improving network health. If this trend persists, XRP’s long-term on-chain narrative might strengthen. 💪

Looming sell pressure or strategic loading?

Binance‘s Exchange Reserves climbed 2.62%, reaching $6.54 billion. Traditionally, rising reserves imply potential sell-side pressure as more tokens sit idle on exchanges. 📉

However, context matters. 🤔

This uptick could also reflect investor anticipation of favorable price action, prompting temporary positioning for swift execution. The reserve growth comes alongside increased whale transfers and rising spot demand. 📈

Therefore, it remains uncertain whether the move is preemptive profit-taking or accumulation for an incoming breakout. 💸

Are buyers setting the tone for a recovery?

Spot Taker CVD revealed taker buy orders dominating sell orders. This pattern often preceded bullish breakouts as buyers drove the price higher. 📈

In fact, combining long-biased derivative positions with a falling NVT Ratio painted rising investor confidence. Consequently, sustained buyer aggression suggested traders were bracing for a breakout attempt. 🚀

Will XRP finally break its descending resistance?

XRP continues to coil just below a long-standing descending resistance near $2.35. At press time, its $2.27 price places it within striking distance of a decisive breakout. 🎯

However, the Stochastic RSI is flashing overbought readings above 90, indicating possible exhaustion. Previous rallies have failed at similar levels, reinforcing the resistance zone’s importance. 🚧

Therefore, a clean break above $2.35 would confirm bullish momentum; otherwise, late buyers risk a trap. 😈

Despite overbought technical signals, the convergence of rising buy-side aggression, falling NVT, and whale activity present a potential breakout setup for XRP. 🚀

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2025-07-07 14:26