Elliott Wave Expert Says Only Bullish Scenarios Remain After Accumulation Phase ⋆ ZyCrypto

XRP traded rather weakly on Thursday, holding just above $2.10, even after gaining roughly 13% over the past week.

Following an extended period of crypto market quiet, the crypto-asset is emerging as a key focus for investors, with analysts now pointing to a potential major recovery ahead due to various bullish signals.

Notably, data from blockchain analytics firm Santiment highlights that whale wallets holding between 10 and 10,000 XRP have quietly accumulated roughly 26% of the total circulating supply since mid-December.

The analysts noted in a recent analysis.

This level of accumulation is being interpreted as a strong sign of confidence among institutional and high-net-worth investors, often referred to as whales.

Santiment further noted that long-term holders are still largely in the red, with average losses around 2.55% as of New Years Eve. Notably, this dynamic, in which whales buy heavily while retail traders remain cautious, can often precede significant price appreciation.

they added.

This surge in whale activity is reinforced by data that shows a sharp increase in large XRP Ledger transactions valued at $100,000 or more. The network recorded 2,170 such transfers on Monday, before activity jumped to 2,802 by the following day, marking a three-month high.

Retail sentiment, in contrast, remains largely neutral. Unlike previous rallies where retail fear-of-missing-out drove sharp short-term spikes, XRPs current momentum appears measured and steady. Analysts see this as a positive factor, as it reduces the likelihood of sudden, unsustainable surges driven by hype.

one analyst explained.

Technical indicators also appear supportive. On the weekly chart, the Relative Strength Index (RSI) has recently broken above its moving average, signaling a potential shift in momentum, as noted by crypto analyst Steph Is Crypto.