In the volatile world of cryptocurrency, certain price levels become legendary battlegrounds for buyers and sellers. For XRP, that line in the sand has been drawn at approximately $2.81, a support level fortified by a staggering historical accumulation now valued at over $5 billion.
A Support Level Built on Billions
According to market analyst Martinez, the $2.81 price zone represents a historically significant area of accumulation. At this level, a colossal 1.70 million XRP tokens were purchased by long-term holders. At today’s prices, this stash is worth an incredible $5 billion, transforming this price point into a formidable support base.
These massive accumulation zones are critical in technical analysis. They often act as powerful psychological support or resistance because they represent the break-even point for a huge volume of investors. As Martinez notes, investors often react strongly if a long-held profitable position (being “in the green”) is threatened with becoming an unrealized loss, prompting them to defend the price level.
A Recent Test of Strength
This theory was recently put to the test. At the beginning of the month, the entire cryptocurrency market faced a period of intense selling pressure, fueled by geopolitical uncertainty from Donald Trump’s trade war announcements and the movement of US nuclear submarines. Amid this market-wide free-fall, XRP’s price descended to test the crucial $2.81 support.
However, bullish investors stepped in to mount a powerful defense. The support held firm, and XRP staged a confident bounce, not looking back since. This rebound carried the token to the $3.30 resistance level, which has so far proven too strong to breach, temporarily halting the upward momentum.
Whales Signal Confidence with Massive Buys
Despite the resistance, large-scale investors, often referred to as “whales,” appear increasingly bullish on XRP’s future. Their actions speak louder than words, as they continue to accumulate the token in massive quantities.
Following a remarkable $1 billion purchase of XRP last week, these influential players doubled down on their bet. Just a few days later, they acquired another 120 million coins, signaling deep confidence in the asset’s potential for a significant price appreciation. This consistent accumulation suggests that they view the current prices as a valuable entry point before a potential breakout.
The Path Forward: Eyes on $3.26
Looking ahead, the path for XRP is clearly defined. Martinez has outlined $3.26 as the most critical resistance level to watch. A decisive break above this ceiling would likely trigger a new wave of buying pressure and invalidate the current resistance.
Should the bulls succeed in clearing this hurdle, the analyst predicts a significant rally could be next. According to his analysis, a sustained move above 3.90**. For now, the market watches as XRP consolidates between its $5 billion support fortress and the key resistance that stands in its way.
