The price of XRP is showing renewed momentum this October 27th. It has gained nearly 6% in the last week, trading near key resistance. Recent on-chain analysis data reveals strong XRP price rally signals. These metrics suggest that large investors are positioning themselves for a potential bullish breakout.
Hard data supports the bullish thesis. According to the analytics platform Santiment, XRP “whales” have been active. Wallets holding over one billion XRP recently added 50 million tokens. Additionally, the 10 million to 100 million XRP cohort added another 70 million coins. In total, this represents an accumulation of 120 million XRP in just 48 hours.
This accumulation is significant. It indicates that the market’s largest players expect short-term momentum. Complementing this, the 4-hour chart technical analysis is positive. The 20-period exponential moving average (EMA) has already crossed the 50-period EMA. Now, it is dangerously approaching the 100-period EMA, a move known as a potential “golden cross.”
This technical crossover, if confirmed, usually means that buying strength is growing. Short-term traders often see this as a signal to position themselves. The convergence of on-chain activity (whales) and charts (EMAs) reinforces the outlook for an upcoming move higher. This situation is key for the token’s economy.
Can XRP Break Through the “$2.81 Wall”?
The main immediate obstacle is clear. Data from Glassnode identifies a key resistance zone. The densest supply cluster is located between $2.78 and $2.80. Approximately 135 million XRP were last acquired in this range. This area represents a potential selling wall where holders will look to take profits.
This level aligns almost perfectly with the daily chart analysis. XRP is trading within a falling wedge, a classic bullish reversal pattern. The upper boundary of this wedge is precisely at $2.81. Therefore, a daily close above $2.81 would confirm the breakout.
If XRP manages to conquer that level, bullish technical targets are activated. Analysts point to possible price targets at $3.37 and, subsequently, at $3.66. However, the bullish scenario has its risks. If the price fails to break $2.81 and instead falls below $2.59, the upward move could be significantly delayed.
