XRP Price News: Accumulation Confirmed – Whales Buy $152M in March

XRP (XRP) has retreated by 4.4% in the past 7 days, dropping below the $1.40 level in the past few hours once again after a flat inflation report in the United States.

Prices rose by 2.4% in February compared to the same period a year ago, in line with analysts’ estimates for the month.

Trading volumes have been steadily dropping, as the token continues to trade relatively range-bound between $1.48 and $1.34.

The data suggests that XRP is currently consolidating, meaning that the market is still indecisive in terms of where the token might be heading next.

Whales Have Bought 110 Million XRP This Month

On-chain data from Santiment confirms that this consolidation could be the result of an ongoing process of accumulation by deep-pocketed players.

XRP Balance of Top Addresses – Source: Santiment

According to the data, the amount of tokens owned by whale wallets holding between 100K and 100 million XRP has increased by 110 million since the month started, which translates into a $152 million investment at today’s prices.

This suggests that the “smart money” is strongly buying the latest dips, which means that they either believe that XRP will rise in the near future or expect some kind of favorable development that pushes the price higher soon.

Whales holdings between 10 million and 100 million XRP were the ones that bought the token more aggressively, adding 70 million XRP since the month started.

This buying pressure from deep-pocketed investors could help create a strong floor for the token and may help kickstart a relief rally if the price action breaks a key resistance level.

XRP Needs to Break Above $1.48 to Ignite a Strong Relief Rally

The 4-hour chart clearly outlines the most relevant technical areas for the token. The $1.34 area has been a strong demand zone recently, while a sell wall has emerged right above $1.45. This makes the latter level the most important resistance to watch if we get a rally in the next few days.

XRP/USDT 4H Chart – Source: TradingView

The 200-day exponential moving average also sits at this level right now, making it even more relevant from a technical standpoint.

If we get a breakout above this mark, we could expect a move toward the $1.65 level, meaning a 14% upside potential. This trade offers an interesting 3x risk-reward ratio once confirmed.

The Relative Strength Index (RSI) has been steadily recovering in March. Interestingly, this has happened alongside whale buying, which could further confirm that XRP’s local bottom is already in.

If this oscillator rises past the 60 mark, that would be a clear signal that positive momentum is rapidly accelerating.

XRP/USDT 1H Chart – Source: TradingView

The hourly chart has flashed three consecutive buy signals. The first one popped up on March 9, back when XRP bounced off the $1.34 support. This was a clear buy signal that already hit a first take-profit level of 1.5x.

This particular trade offers a 3.5x risk-reward if the price hits the $1.48 target. In this lower time frame, the RSI has also delivered a buy signal upon rising above the 14-period moving average.