XRP is attracting large-holder buying even as Bitcoin and Ethereum investors reduce their exposure during a broader cryptocurrency selloff. According to data cited by analyst Ali Martinez, XRP whale wallets accumulated approximately 65.32 million tokens worth nearly $72 million over four days. The buying contrasts with substantial distributions from Bitcoin and Ethereum holders. However, accumulation has yet to reverse XRP’s bearish price trend, leaving traders focused on whether key support can attract enough demand to trigger a recovery.
XRP Whales Accumulate as BTC and ETH Sell
Data from Santiment shows a notable divergence in whale activity across the three largest cryptocurrencies. XRP wallets holding substantial balances increased their combined supply from approximately 3.90 billion to 4.00 billion tokens, reflecting the reported accumulation of 65.32 million XRP.
Bitcoin and Ethereum have experienced the opposite trend. Large Bitcoin holders reduced their balances by more than 34,000 BTC over the past week, representing approximately $2.6 billion at recent prices. The distribution coincided with Bitcoin falling from around $79,000 to below $73,000.
The selling trend also extended to Ethereum. Large ETH wallets shed approximately 17,800 tokens, valued at roughly $40 million, over the same period.
These figures highlight different positioning among large investors. While Bitcoin and Ethereum whales have reduced exposure during the market downturn, XRP holders appear to be using lower prices to increase their positions.
However, whale accumulation does not guarantee a price recovery. Wallet balances can change for several reasons, and purchases by large holders may not immediately translate into sustained market demand.
XRP Price Chart Signals Potential Recovery
Despite the broader decline, cryptocurrency analyst Ali Martinez identified a possible rebound setup on XRP’s four-hour chart. The token has been trading inside a descending channel over the past month, a pattern defined by successive lower highs and lower lows.
The analyst identified approximately $1.14 as a critical support level. If buyers defend that area, XRP could attempt a recovery toward the channel’s upper boundary near $1.30.
That would represent a substantial move from the recent trading levels. Nevertheless, the setup remains conditional: subsequent market reports indicated that XRP had fallen below $1.14, weakening the original rebound scenario.
The $1.30 target therefore requires a renewed recovery in buying pressure and a reclaim of the former support area.
Key XRP Support and Resistance Levels
The immediate outlook depends on whether XRP can stabilize after its recent decline. Whale accumulation offers a potentially supportive signal, but the descending channel shows that sellers have maintained control.
Important levels to monitor include:
- Critical support: $1.14, the analyst’s original rebound threshold.
- Potential upside target: $1.30, near the channel’s upper boundary.
- Market reference: Around $1.06 in the latest November 11 market snapshot.
Conclusion
XRP is showing a notable contrast between whale accumulation and the distribution taking place in Bitcoin and Ethereum. The reported $72 million of buying could indicate growing interest among large holders, but it has not yet confirmed a bullish reversal. A sustained recovery above $1.14 would improve the technical outlook and bring $1.30 back into focus. If XRP remains below that level, broader market weakness could continue to outweigh the positive on-chain signal.
Sources & Methodology
Primary-source standard: Market-moving facts should link to original data releases, regulator notices, company filings or official project announcements whenever available. Secondary reporting is used for additional context, not as a substitute for original evidence.
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