What to know:
- XRP whales accumulated 71 million tokens despite continuing market weakness over the past week.
- XRP price dropped 0.31% while technical indicators signaled growing bearish momentum.
- Whale holdings increased steadily as traders monitored key XRP support levels closely.
XRP whale wallets accumulated more than 71 million tokens within one week while the asset continued losing momentum across the broader crypto market. According to crypto analyst Ali Charts, whales accumulated XRP between May 14 and May 20, with data shared alongside the post showing holdings rising from nearly 3.72 billion XRP to approximately 3.79 billion XRP during that period.
Moreover, the accumulation intensified while XRP remained under selling pressure on the daily timeframe. At the moment, XRP is trading at $1.35, representing a 0.31% decline within the past 24 hours. Despite the declining structure, whale wallets steadily expanded their balances instead of reducing positions.
Besides, the largest increase in holdings appeared between May 18 and May 19. Whale balances climbed rapidly during that stretch before stabilizing at elevated levels on May 20. The trend suggested that large investors maintained confidence despite uncertain short-term market conditions.
Also Read: XRP Bears Tighten Control as Analyst Flags Critical $1.30 Breakdown Risk
XRP Technical Structure Remains Under Pressure
TradingView data also showed XRP approaching the lower Bollinger Band near $1.33. Traders frequently monitor that region because it often acts as an important support zone during weakening market conditions.
Additionally, the Relative Strength Index dropped near 41, remaining below the neutral 50 level. Many traders interpret that range as a sign that sellers currently maintain stronger momentum across shorter trading periods.
Source: Tradingview
Recent candles also closed beneath the Bollinger Bands’ average line, reinforcing concerns surrounding slowing bullish strength. Consequently, several investors have continued approaching the market cautiously despite the ongoing whale accumulation trend, while some view the accumulation as preparation for a potential recovery phase if broader crypto sentiment improves.
In conclusion, XRP remained under technical pressure while whale investors accumulated more than 71 million tokens within seven days. Traders now continue monitoring whether sustained whale activity can eventually support a stronger recovery despite current bearish momentum.
Also Read: Huge: XRP Network Records Major Milestone Amid Slow Market- Details
