XRP has seen a sharp wave of fresh capital inflows, adding more than $4 billion to its market capitalization in the past 24 hours.
In this case, the asset’s valuation rose from $112.40 billion to $126.74 billion at press time, marking one of its strongest single-day capital surges in recent weeks and signaling growing trader confidence.
The rapid jump in market cap coincides with a bullish technical structure, suggesting a sustained rebound in the coming sessions.
In this line, insights shared by cryptocurrency trading analyst Ali Martinez in an X post on December 8 indicate that XRP is currently trading inside a large symmetrical triangle pattern, with price action compressing toward the apex.
Notably, the pattern shows a descending upper trendline and a rising lower trendline, reflecting reduced volatility as XRP nears a breakout zone.
At the same time, recent candles continue to move between these converging levels while forming higher lows, indicating strengthening buyer momentum and setting the stage for a potential decisive move.
Based on the structure, Martinez noted that XRP is positioned for an upside breakout, with technical projections pointing to a potential 16% rally if the price pierces the triangle’s upper boundary.
XRP whales on a dumping spree
Interestingly, despite XRP showing strength, whales are not confident in the asset’s long-term structure. On-chain data indicates that whales have offloaded roughly 510 million tokens over the past week. The outflows affected wallets holding between 1 million and 10 million XRP.
This sustained distribution suggests major holders are reducing exposure, a trend that often amplifies market weakness.
With whale supply falling sharply, XRP risks further downside if retail demand fails to absorb the selling. However, if selling slows or large holders begin accumulating again, the asset could stabilize and attempt a recovery from current levels.
XRP price analysis
By press time, XRP was trading at $2.09, having rallied over 3% in the past 24 hours, while on the weekly timeframe the token has gained over 2%.
Indeed, XRP needs stronger bullish input to reclaim the $2.15 resistance. If the technical structure plays out, the asset is likely to target $2.5 next.
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