XRP Consolidates Above $2.70 as Market Awaits Next Move According to market analyst Phursey, XRP is currently consolidating above the crucial $2.70 support zone. The digital asset’s broader bullish trend remains intact, yet momentum indicators show a pause, leaving traders closely watching the next decisive move. The 100-day moving average (MA), hovering near $2.80, continues to provide a strong layer of technical support, reinforcing XRP’s broader uptrend structure. Despite this safety net, momentum has flattened, with the Relative Strength Index (RSI) holding around neutral territory. This suggests that neither bulls nor bears have established dominance in the short term, creating a period of equilibrium after weeks of heightened volatility. From a bullish outlook, the $3.20 level has emerged as the next key hurdle. A clean breakout above this resistance could revive upside momentum, setting the stage for a retest of the $3.65 high. Market sentiment would likely turn more optimistic in that scenario, with buyers regaining confidence and momentum traders re-entering the market. On the downside, however, a failure to hold above $2.70 could shift the narrative. A decisive break below this support may expose XRP to further declines, with $2.30 identified as the next critical level. Such a drop would likely dampen investor sentiment and raise concerns about the sustainability of XRP’s broader uptrend, at least in the near term. At the time of this writing, XRP was trading at $2.82, representing a 5.4% drop in the past 24 hours, according to CoinGecko data . XRP Whale Wallets Hit Record Control of 47.32B Tokens, Signaling Growing Market Confidence According to market enthusiast Cryptodonia, whale wallets holding over one million XRP each have reached a new record level of dominance, now collectively controlling 47.32 billion tokens. This milestone underscores a notable trend in the XRP ecosystem where large-scale investors are consolidating their grip on supply, potentially shaping both market stability and future price action. Whale wallets holding over 1M XRP are ramping up accumulation, signaling growing confidence in XRP’s long-term value as they continue shaping liquidity, sentiment, and price direction. Notably, XRP is consolidating after recent highs, but surging whale accumulation suggests major holders are positioning for future upside. Historically, such phases have often preceded significant rallies, as concentrated supply tightens liquidity for retail traders. Meanwhile, Flare Network recently launched the first XRP-backed stablecoin, a major milestone that expands XRP’s utility and strengthens its role in the DeFi ecosystem. Conclusion The record-breaking control of 47.32 billion XRP by whale wallets underscores the growing conviction of large investors in the asset’s long-term potential. Meanwhile, XRP’s consolidation above $2.70 marks a critical juncture, with price action between $2.70–$3.20 set to determine its next major move. While the broader uptrend remains intact above the 100-day MA, momentum in this range will decide whether bulls reclaim breakout strength or risk a deeper correction.
