XRP shows signs of a potential rebound after being halted at over $1.60, according to recent on-chain and technical analysis. Market data indicates whale accumulation of an additional 40 million tokens, while the TD Sequential indicator has flashed a buy signal on a 12-hour chart. Analysts also point to XRP’s estimated leverage ratio hitting a low not seen since November 2024, a level that previously preceded a major price surge.
XRP faced resistance above $1.60 last week, yet several bullish signals have emerged. Whale entities have reportedly accumulated 40 million more tokens over the past seven days, as data shared by analyst Ali Martinez shows.
A technical tool known as the TD Sequential has provided a second optimistic sign. On the 12-hour chart, this metric has flashed a “buy signal,” which Ali Martinez noted could set XRP up for a rebound.
Analyst CW highlighted a significant drop in trader leverage alongside the whale activity. They stated the token’s estimated leverage ratio has fallen to 0.14, its lowest point since November 2024.
“All investors using leverage have been liquidated,” CW explained in a post. This low leverage level typically marks a potential price bottom for the asset.
Following the November 2024 low, XRP’s price soared from below $1 to nearly $3.40. The current market landscape differs, but the asset has previously defied broader sentiment.
