Rising Whale Activity and Leverage Spark Uncertainty in XRP Market

XRP's price has been stuck near $1 for some time now, but recent whale activity is indicating a significant change in the market.

The number of large-value transactions (worth over $1 million) has surged by an impressive 280% within just 24 hours. This increase in whale activity could be setting the stage for a sharp price move.

Rising derivatives open interest on Binance, which has reached its highest level in about two months, adds another layer of uncertainty to the XRP setup. The growing leverage and open interest indicate that more capital is entering outstanding positions.

The key question now is whether whales are positioning for a recovery or preparing for another volatility shock. Bulls need to reclaim $1.05 followed by $1.15-$1.20 to confirm a broader recovery, while losing the $0.96-$0.98 support zone could keep sellers in control.