XRP Signals Next Price Rally as Whales Invest $75M in 4-days 

Ripple (XRP) Price Insights:

• Ripple (XRP) price has remained rooted below $0.50 this week, as it continues lagging behind other top mega-cap cryptocurrencies like BTC and ETH. 
• A vital on-chain indicator shows that Whale investors have started buying XRP again after the Middle East Crisis sent them into a  panic sell-off. 
• Technical indicators reveal how high the recent spike in whale demand could drive XRP price in the days ahead. 

Ripple (XRP) price has remained rooted below $0.50 this week as it continues trudging behind other top mega-cap cryptocurrencies like BTC and ETH. Technical and on-chain indicators reveal how the recent spike in whale demand could drive up XRP price in the days ahead.

Crypto Whales Have Spent $75M Buying XRP This Week

When the Middle-East crisis between Israel and Palestine broke out on October 7, its sent bearish headwinds searing through the crypto industry. By the end of that week, the global crypto market shrunk 3%, as investors withdrew more then $3 billion between October 7 and October 14.  

On-chain data nows shows that XRP suffered one the largest capital outflow by large investors last week. As depicted below, crypto whale wallets holding 1 million to 100 million XRP, experienced outflows of 190 million worth approximately $95 million between October 7 and October 14. 

But the good news is, the whales have regained some confidence this week. As seen in the chart, the whales have increased their holdings from 8.86 billion to 9.01 billion between October 14 and October 19. 

The Whales Wallet Balances chart above tracks real-time changes in the number of coins held by large institutional investors otherwise caled crypto whales. The 150 million XRP purchase depicted above means the whales have invested $75M buying XRP this week alone.   

Notably, crypto whales are often influential within a blockchain ecosystem. Hence if they maintain the currency buying trend for a few more days, other retail investors could begin to mirror their trades, and take on a bullish disposition too. 

Hence this on-chain indicator suggests the XRP holders can keep their fingers crossed for the next price rally above the $0.50. 

XRP Price Forecast: The $0.50 Resistance Could Soon Give Way

With XRP currently valued at $0.49, the daily-time frame technical analysis provides essential insights into its potential upcoming price movements. 

XRP’s current price is $0.49, and the Parabolic SAR (Stop and Reverse) is at $0.52. In this context, the Parabolic SAR’s value of $0.52 is above the current price, indicating that the bulls could surrender to the bearish trend around that resistance level. 

However a breakout above that range could open the door to a prolonged Ripple (XRP) price rally toward $0.55. 

Conversely, on the downside, XRP could generate initial buying interest at $0.47. But in the case of a larger downtrend,the bulls could mount a much more significant buy-wall at $0.45.