Ali, a cryptocurrency analyst, has detected an intriguing trend emerging among XRP whales. Ali's examination reveals that XRP whales have acquired approximately 110 million XRP tokens over the past two weeks, amounting to a staggering $55 million in value.

Based on data sourced from Santiment, Ali points out that XRP whales holding between 1 million to 10 million coins have been actively engaging in the accumulation of the digital asset, particularly notable during the recent fortnight. This significant uptick in accumulation has resulted in a net increase in the XRP holdings of these whales, indicating a strong level of confidence and bullish sentiment towards the cryptocurrency.

The crypto community has taken notice of this development, sparking discussions and speculation regarding the underlying reasons driving such substantial accumulation and its potential implications for the future price trajectory of XRP.

In terms of price action, XRP has predominantly traded within a consolidated range since mid-April. Despite bullish attempts to propel XRP's price beyond the $0.57 mark, these efforts have been met with resistance from bears on multiple occasions, underscoring a notable near-term resistance level that must be breached for further upside momentum.

Following a dip to $0.4841 on May 13, XRP initiated a recovery phase. However, minor selling pressure has hampered its upward trajectory, with XRP reaching intraday highs of $0.523 during today's trading session.

As of the latest update, XRP has recorded a 1.69% increase in the past 24 hours, reaching a price of $0.514. Should XRP manage to sustain its current levels, it may aim to challenge the overhead resistance at $0.57, a level that presents a significant obstacle to overcome. A successful breach of this resistance could potentially propel XRP towards higher targets, such as $0.64 or even $0.74, surpassing its daily moving averages in the process.

Conversely, a retreat from current levels may prompt bears to strengthen their positions, targeting the crucial support zone at $0.46, which is expected to be vigorously defended by buyers. A strong bounce from this support level could signal a continuation of the range-bound activity in the near term, providing further insights into the ongoing dynamics of XRP's price action. #XRP News