Key Highlights
- XRP gained more than 9% over 24 hours, reaching $1.46 after finding solid support around $1.30
- Whale-level buying activity has accelerated, with buy orders significantly outpacing sell orders based on on-chain metrics
- Critical resistance zones appear at $1.49–$1.52, followed by $1.68, ahead of any potential rally back to $2
- Current positioning suggests a short squeeze scenario above present levels could drive rapid appreciation, with targets reaching as high as $4.20
- SBI Ripple Asia partnered with DSRV Labs to explore XRP Ledger applications for cross-border transactions linking Japan and Korea
XRP has staged a strong recovery of approximately 9% from its recent bottom, currently changing hands around $1.46 following a successful defense of support near $1.30. This upward movement aligns with renewed strength across digital asset markets, where Bitcoin climbed back above $68,000 and total cryptocurrency market capitalization increased by over 5% to approximately $2.37 trillion.
Analyst Cypress Demanincor identified $1.3475 as a critical daily buy wall three days prior when XRP traded at $1.34. He indicated that maintaining this level could allow bullish momentum to return, projecting upside targets between $1.45 and $1.99 at that time. XRP has since reached the lower boundary of that projected range.
Demanincor provided updated levels in a subsequent analysis. While XRP remains above $1.40, the $1.49–$1.52 area represents the immediate obstacle. A decisive move through this zone would expose the sell wall positioned at $1.68. Successfully clearing $1.68 would bring $2 back into realistic striking distance.
Should buying momentum weaken, $1.40 emerges as the critical support level. A breakdown beneath this threshold could send XRP back toward $1.35.
$1.50 Emerges as Critical Threshold
Analyst CryptoInsightUK reinforced the significance of $1.50, expressing his preference for a daily close above this mark to validate sustained upward momentum. He observed that the current recovery appears organic and lacks signs of artificial inflation from open interest spikes or market manipulation.
From a technical perspective, XRP successfully breached a bearish trend line with resistance at $1.3820 on the hourly timeframe. Price action extended to a peak of $1.4936 before entering a consolidation phase. Current trading occurs above the 100-hourly Simple Moving Average. The MACD indicator has produced a bullish crossover signal, while the RSI approaches 70 without entering extreme overbought conditions.
XRP trading volume expanded by 26.69% across 24 hours to reach $3.53 billion, indicating heightened market engagement.
Whale Accumulation and Short Squeeze Dynamics
On-chain metrics reveal a pronounced increase in large-scale purchasing activity. The Cumulative Volume Delta indicator demonstrates buy orders consistently dominating sell orders. Analyst CW characterized this behavior as aggressive accumulation driven by whale-class participants.
Liquidity analysis presented by analyst Bird reveals that most downside liquidity pockets have already been cleared. Above current trading levels, the market shows heavy concentration of short positions. Continued upward movement in XRP would force these short sellers to cover positions at elevated prices, creating additional buying pressure. Bird anticipates a possible short squeeze scenario that could propel XRP toward $4.20.
On the institutional development front, SBI Ripple Asia and South Korea’s DSRV Labs unveiled a research partnership on February 24 to evaluate the XRP Ledger’s capabilities for facilitating cross-border payment flows between Japan and Korea.
XRP currently trades near $1.46, with the $1.49–$1.52 zone standing as the next significant resistance area to overcome.
