Ripple’s XRP has held up this month with institutional demand being the key to the August rally. It’s currently trading at $3.14 above the $3.02 support after reaching $3.35 last week. With whale accumulation increasing and technicals tightening, investors are wondering if the momentum can continue.
Whale Demand Means Market Support
On-chain data shows that large holders are buying heavily. In the last week alone, whales purchased around 440 million XRP – an estimated $3.8 billion – including 120 million tokens on August 15 during a $10 billion market wide sell off. This aggressive buying shows long term confidence and may offset retail selling that happens during volatile swings.
Despite losing $15 billion in market cap since August 8 with prices dropping 8% to $3.08, XRP still has a fully diluted valuation of $308 billion. Daily trading volume has dropped 36% to $7.55 billion but whale activity is concentrated so this dip might be an accumulation phase rather than a breakdown.
Historically, large wallet inflows have preceded price stabilization and recovery especially when exchange reserves decline and liquidity tightens.
XRP/USD Technicals Point to Momentum
XRP price prediction seems bullish as the 4 hour chart shows a symmetrical triangle pattern building momentum. XRP has been making higher lows since late July and the price is below the 50 SMA at $3.20 which is also triangle resistance and a key pivot for the next breakout.
Candlestick analysis shows spinning tops and indecisive closes which are common precursors to strong moves. A bullish engulfing candle forming at the $3.02-$3.10 zone would confirm demand. Technicals also support a bounce: RSI is at 48 so there’s room to go up and MACD is flattening and could be about to cross bullish.
If buyers take out $3.20 the next resistance zones are $3.38 and $3.51 and extended momentum could test $3.66. Below $2.89 would break the higher low structure and give the bears control.
XRP/USD Trade Setup
For traders the setup is to be patient with a defined risk reward:
Entry Zone: $3.10-$3.15
SL: $2.99
T1: $3.38
T2: $3.51
T3: $3.66
This is a good medium term setup with minimal downside risk. Whales are still buying and technicals are tightening, XRP could go higher if overall market turns positive.
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