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After an extended period of lull in the crypto market, the crypto asset is emerging as a key focus for investors, with analysts now pointing to a potential major recovery following several bullish signals.
Notably, data from blockchain analytics firm Santiment highlights that whale wallets holding between 10 and 10,000 XRP have quietly amassed around 26% of the total circulating supply since mid-December.
“Key stakeholders are finally piling back in and they now own the highest share of XRP since early November.” The analysts noted in a recent analysis.
This level of accumulation is interpreted as a strong sign of confidence among institutional and high net worth investors, often referred to as whales.
 Santiment further noted that long-term investors are still largely in the red, with average losses around 2.55% on New Year’s Eve. This dynamic, where whales buy heavily while retailers remain cautious, can often precede a significant price increase.
“Historically, periods when large stakeholders increase their positions while smaller traders remain hesitant can pave the way for a bullish move,” they added.
This increase in whale activity is reinforced by facts that shows a sharp increase in large XRP Ledger transactions worth $100,000 or more. The network recorded 2,170 such transfers on Monday, before activity rose to 2,802 the next day, a three-month high.
Retail sentiment, on the other hand, remains largely neutral. Unlike previous rallies where retail fear of missing out caused sharp short-term spikes, XRP’s current momentum appears muted and stable. Analysts see this as a positive factor, as it reduces the chance of sudden, unsustainable spikes due to hype.
“While retailers are still actively buying dips, the current stability of the market suggests a healthier environment for longer-term growth.” one analyst explained.
Technical indicators also appear supportive. On the weekly chart, the Relative Strength Index (RSI) recently broke above its moving average, signaling a possible shift in momentum, as noted by crypto analyst Steph Is Crypto.
“The weekly RSI has broken back above its moving average. This is important because this usually only happens when momentum starts to shift decisively in favor of buyers.” He tweeted Thursday.
“Since 2024, every previous RSI breakout above the moving average on the weekly time frame led to a strong uptrend and a price reversal in the weeks that followed.”
Elliott Wave analyst XForceGlobal, a popular Elliott Wave Theory expert, also expressed bullish expectations, citing pattern recognition and market psychology.
“Here’s PROOF that XRP can easily go to $5 (and even to $20+) this cycle using Elliott Wave Theory pattern recognition,” he said. “Most bearish ideas have been debunked and we are left with only two options: a bullish scenario and a very bullish scenario.”
According to him, XRP’s current setup has created a new price floor following previous market consolidations, and a flat pattern is forming that, once resolved, could push the token significantly higher.
“The macro is still trading within a tight range that has not been done before in the history of XRP price action and has created a new price bottom that is now, in my opinion, in the validation phase before continuing upward based on pattern recognition. He added.
At the time of writing, XRP was trading at $2,128, down 2.31% in the past 24 hours.
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