Ripple Whale Accumulation Sky-Rockets, This May Fuel the XRP Price Rally Above $0.5 But After Visiting the Lows Close to $0.3!

Since the XRP price ever since dropped hard from $0.5, is finding it very difficult to hold $0.4 levels. And hence after a prolonged consolidation, the prices finally dropped below $0.4 in the early trading hours. However, if in case it fails to find support, the possibility of the price slashing below $0.33 emerges and in worst cases may also test $0.3. But wait there’s a catch!

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In a recent update, whales appear to have constantly accumulating XRP tokens as they are currently available at a discounted price. And hence the holders with the holdings between 1 million to 10 million have been increased drastically in the past couple of months. 

As per the on-chain analytical platform, the XRP whales have been accumulating and currently hold the highest percentage of the asset’s supply in the past 2 months. These whales are now holding more than 6% of the entire circulating supply and hence indicate a possibility of a notable upswing ahead. 

While the XRP prices are trading with pretty less volatility and hence appear to have to accumulate strength to pull a significant leg up in the near future, however as mentioned before, the prices are very close to the lower support. Yet the possibility of a flip after a brief consolidation for another couple of days appears to be imminent

Therefore, the XRP price may hover within the triangle until the last few days of May and may ignite a significant upswing later. However, the initial upswing may initial secure the levels back above $0.4 in the first week of June. Further, the asset may range higher and test $0.44 where-in it may experience an interim rejection. However, after a brief consolidation, the Ripple price may be primed to a range above $0.5 again.