XRP Pullback Sets Stage for Next Bullish Move

Ripple's XRP has been experiencing a healthy correction after its recent gains, but despite a 4% decline yesterday, it remains within a broader uptrend. Whale accumulation and strong institutional demand are supporting the token's price, with Santiment's Supply Distribution data showing that whales holding between 10 million and 100 million tokens have accumulated 350 million XRP since Sunday.

The network growth index, another key metric tracking user adoption and project traction, surged to 12,608 on Wednesday, its highest level since February 10. This indicates a broadly bullish outlook for XRP. Additionally, spot XRP ETFs recorded an inflow of $18.04 million on Wednesday, highlighting strong investor demand.

However, CryptoQuant's summary data shows cautious signs, with XRP's futures markets showing sell-side dominance and overheating conditions. The token's price trades at around $1.507, firmly above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), reinforcing a bullish near-term bias.