XRP millionaire wallets are ramping up in ‘encouraging sign’: Santiment

💡 DMK Insight

XRP’s surge in whale wallets is a bullish signal amidst broader market fear, and here’s why that matters: Despite the overall crypto market sentiment leaning towards fear, the increase in wallets holding over 1 million XRP indicates strong accumulation by larger investors. This could suggest that these whales are positioning themselves for a potential price rally, especially if they believe the current price of $1.87 is undervalued. Historically, significant accumulation by whales often precedes upward price movements, so traders should keep an eye on this trend. However, it’s worth noting that the broader market’s fear sentiment could lead to volatility. If XRP fails to break above key resistance levels, say around $2.00, we might see profit-taking or panic selling from smaller investors. Traders should monitor the Fear & Greed Index closely, as shifts towards greed could signal a buying opportunity. Watch for XRP’s performance over the next few days; a sustained move above $1.90 could trigger further bullish momentum, while a drop below $1.80 might raise red flags.