XRP Whales Build Wall of Money Around Key Psychological Floor

Major XRP holders have been quietly accumulating coins in anticipation of a potential price surge. Over the past week, they snapped up more than 380 million XRP, bringing their combined balance to 8.13 billion coins.

Data from Santiment reveals that these large investors are building a 'wall of money' around the key $1 mark, preventing the price from falling below this psychological floor.

The buying spree is attributed to a rare buy signal from the Tom DeMark (TD) Sequential indicator on the monthly timeframe, which has accurately predicted two of XRP's biggest rallies in the past six years.

Analysts estimate that if XRP closes August above $1.06, it could break the bearish trend and pave the way for a potential price increase to $1.35 and then $1.64.