XRP Whales Boost Exposure Amid Bearish Technical Outlook

Ripple's XRP has continued to trade in a tight range, despite whales increasing their exposure to the token. The remittance token is currently trading around $1.07, with a bearish near-term bias due to its position below key moving averages.

However, large volume holders on the XRP Ledger (XRPL) are showing significant interest in the token. According to Santiment, the number of wallets holding between 100 million and 1 billion XRP has increased to account for 11.98% of the total supply, up from 10.66% last Saturday.

The growth in wallet activity is mirrored by an increase in active users on the XRPL. Active addresses interacting with the protocol stood at nearly 17,000 on Tuesday, after tagging approximately 37,000 the day before.

Technical analysis indicates that XRP sellers retain control, with key indicators pointing to a broader downside skew. The Moving Average Convergence Divergence (MACD) indicator holds marginally below the zero line, while the Relative Strength Index (RSI) at 45 suggests subdued momentum rather than an oversold condition.