While the cryptocurrency market has been flourishing with most top-tier digital assets posting significant gains, Ripple (XRP) has only seen a modest increase in its price. However, a closer look at market activities reveals that crypto whales have invested heavily in XRP, which may signal an impending price surge for the underdog asset.

Discrepancy in Market Gains

From February 9th to 15th, the crypto market has witnessed impressive gains across the board. Despite this, XRP’s growth has been relatively tame, with an 8% increase, taking its price from $0.51 to a peak of $0.56. This contrasts with the double-digit gains of other major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Avalanche (AVAX).

Whale Movements Under the Microscope

An analysis of on-chain data shows that XRP’s largest whale cohort, holding balances of over 100 million XRP, has significantly increased their holdings. In just five days, these investors have added 220 million XRP to their wallets, totaling an estimated value of $121 million at the current trading price.

The Anticipation of a Ripple Rally

Market analysts suggest that the aggressive accumulation by whales is a strategic move, anticipating that XRP will correct upwards to align with the broader market trend. Should retail investors follow suit, the price of XRP could potentially experience an expedited rally in the near future.

Technical Indicators and Price Predictions

Technical analysis indicates that XRP is facing resistance at the $0.57 mark, as shown by the 20-day Simple Moving Average (SMA) on the Bollinger bands. However, if whale activity continues to intensify, we could see XRP breach this resistance and aim for the $0.60 threshold. Conversely, should the price fall below $0.45, the lower Bollinger band suggests a strong buy-wall at $0.49 could provide substantial support.