XRP whales accumulated over 220 million tokens in the past two weeks, fueling a 20% price surge before the asset retraced to $1.46 on March 19.
In early March, XRP whales held about 10.88 billion tokens, which were valued at around $14.57 billion, but have since increased their holdings to 11.10 billion units, worth approximately $16.24 billion, as per metrics retrieved by Finbold from on-chain analytics platform Santiment.
Can XRP whales guarantee a V-shaped reversal?
While accumulation supports bullish momentum, XRP still faces key resistance between $1.65 and $1.75, limiting the likelihood of a sustained breakout without stronger catalysts.
As a result, the odds of XRP whales guaranteeing a V-shaped reversal will remain thin, if other major triggers are not realized.
Consequently, the XRP whales will heavily rely on cumulative positive fundamentals to counter bearish forces catalyzed by the four-year cycle, which indicates a macro bear market.
