XRP’s recent downturn was to be expected given the market’s bearish behavior. Nonetheless, the asset has battled against the bulls to secure the $0.45 price point, and with whale and shark addresses slowly accumulating, a sustainable price recovery looks promising. According to data from Santiment, whale addresses are amassing XRP tokens to add to their accumulations and Shark addresses continue to increase their holdings at a steady pace. These activities on the XRP network signify a growing intent to create a strong base for a potential price surge. Moreover, the number of active addresses saw a rapid surge which indicates an increase in network activity. Now that XRP has managed to reclaim the $0.45 level, the asset is working towards establishing a comfortable position above the price threshold as it looks to capture the first crucial resistance point. Should the trend of accumulation continue, it could be the catalyst to push XRP prices to recover and push them back to the $0.50 territory.
Ivanna Patel
- 2023-04-25
XRP Reclaims $0.45 Level, Whale & Shark Addresses Amassing
XRP has managed to reclaim the $0.45 level, and with whale and shark addresses slowly accumulating, a sustainable price recovery looks promising. Number of active addresses on the XRP network has seen a rapid surge which indicates an increase in network activity.
