The cryptocurrency markets have managed to overcome the selling pressure caused by the introduction of DeepSeek, an innovative AI model. Most cryptocurrencies experienced a significant sell-off, particularly in the AI sector. However, XRP swiftly recovered from a drop below $2.7 and is now poised for another breakout. Currently, XRP has surged by nearly 10% to reach $3.15, even as trading volume has decreased by over 18%, indicating that bears are staying on the sidelines.
Furthermore, XRP’s price continues to trade within a bullish pattern, suggesting the potential for a bullish breakout in the near future.
A noteworthy development is the significant whale activity observed in the past few hours, which could signal an impending bullish movement. Amidst the recent sell-off, whales have acquired millions of XRP and have kept the tokens active. According to data shared by popular analyst ALI, whales purchased around 120 million XRP during the recent dip.
This bold move by whales to accumulate XRP during a dip may have reignited an upward trend in XRP’s price, preventing the token from sustaining further losses. Moreover, as per another update from Brett, approximately 25 million XRP were purchased from Upbit and transferred to an unknown wallet. This action is anticipated to generate bullish signals for XRP, which is approaching a crucial resistance level.
Market participants seized the opportunity to buy XRP as it dipped below the 0.786 FIB level at $2.77, triggering a rapid rebound in price. Currently, the price is consolidating within a narrow range while technical indicators have turned bullish. The MACD and DMI levels are on the verge of a bullish crossover, signaling an imminent breakout.
Meanwhile, the ADX is hovering at lower levels as bulls continue to accumulate. The on-balance volume remains positive, indicating no signs of a pullback. Additionally, the Chaikin Money Flow indicator is well above 0, reflecting strong momentum in the rally. Consequently, XRP’s price is poised to break above the 1 FIB level and potentially reach a new all-time high at the 1.2 FIB level of $4.18 in the near future.
