Despite facing significant resistance at the $2.95 price level, XRP continues to demonstrate underlying strength through substantial accumulation by major investors. Market analysts observe that persistent buying activity from large wallet holders, commonly referred to as ‘whales,’ indicates strong conviction in XRP’s potential to reach approximately $4.20 in the coming weeks.
The recent rejection at $2.95 created temporary selling pressure, but the sustained accumulation patterns from institutional-scale investors suggest this may represent a consolidation phase rather than a trend reversal. Technical analysts note that whale buying during price corrections typically precedes significant upward movements, with the $4.20 target representing a key psychological and technical resistance level.
Market data reveals that whale transactions have increased substantially over the past week, with several multi-million dollar purchases recorded across major exchanges. This accumulation pattern mirrors previous instances that preceded major price breakouts in XRP’s history. The consistent buying pressure from large investors, combined with improving market fundamentals, creates conditions that could potentially drive XRP toward the projected $4.20 threshold.
While short-term volatility remains expected, the underlying accumulation metrics and whale confidence provide compelling evidence for continued bullish momentum. Market participants are closely monitoring these large-scale transactions as potential indicators of the cryptocurrency’s next major price movement.
