XRP Bulls Charge: Whale Accumulation and Elliott Wave Signal Strong Recovery

XRP formed a five-wave impulse from recent lows, this could be the end of the corrective phase.

Large XRP holders stabilized balances near 12.9 billion, indicating accumulation-driven momentum may support price recovery above key resistance.

Order book heatmap shows strong buy support at $2.35–$2.40 and reduced resistance above $2.60, reflecting strengthening market demand.

XRP renewed strength, whale accumulation rise and Elliott Wave patterns suggest bullish momentum. Price is signaling potential continuation after it rebounded from key support near $2.40.

Structure Suggests Potential Upside

XRP’s 4-hour chart displays a detailed Elliott Wave pattern, indicating the end of a W–X–Y corrective phase. The market initially rallied toward $3.60 during wave X, followed by a contracting triangle labeled A–B–C–D–E. Wave Y concluded near $1.00–$1.20, marking the completion of this corrective sequence.

Source: Mathew Dixon Via X

Following this low, XRP price recovered from the $2.40 region and the RSI climbed above 55. Analysts are now watching the $2.65–$2.70 area, where prior support turned into resistance.

Whale Activity Correlates with Price Movements

Santiment charts reveal mid-to-large XRP holders play a significant role in price performance. Wallets containing 100,000–10,000,000 XRP increased holdings between late July and mid-August, coinciding with a rally above $3.00.

Source: Ali Charts Via X

Reduced holdings from early September contributed to a price decline from $3.20 to below $2.50 by mid-October.Recent data shows whale balances stabilizing near 12.9 billion XRP, suggesting selling pressure may be easing

Consistent accumulation by these large holders could support price stabilization. Observers note that XRP remains below the $2.50–$2.70 resistance zone, where sustained buying is needed for confirmation of recovery.

Matthew Dixon, added that the triangle pattern was a “PRETERMINAL” B wave before a Terminal C wave thrust, hinting at possible impulsive moves toward new highs. This aligns with the observed accumulation trends and market structure.

Order Book Liquidity Reflects Strengthening Demand

XRP’s order book heatmap shows high buy interest between $2.35 and $2.40, creating strong support zones. Large buy orders repeatedly prevented further decline, reflecting institutional or large-scale accumulation at these levels.

As the price rebounded, multiple liquidity bands appeared near $2.50–$2.55, where sellers tried to capture profits. Gradual upward shifts in these bands indicate sellers were lifted higher, suggesting demand is absorbing selling pressure.

Above $2.60, liquidity thins, which may allow price movement to advance if buying pressure continues. The heatmap presents a structure where demand is gradually strengthening, supporting the potential for continued price improvement in the near term.

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