XRP’s recent surge in price has resulted in a notable uptick in whale activity for the sixth-largest cryptocurrency. Currently trading at $0.69, XRP has seen a 14.2% increase in value over the past 24 hours, with a market cap of $37.8 billion and a daily trading volume of $7.2 billion.

XRP Price and Whale Activity Data

Recent data from Santiment reveals that the number of whale transactions involving at least $100,000 worth of XRP has surged by 205%, reaching 2,347 unique transactions per day from 770. This spike in whale activity has coincided with an increase in XRP’s Relative Strength Index (RSI) from 62 to 72, indicating a potential overheating of the market.

Market Indicators and Signals

The price-daily active addresses (DAA) divergence for XRP has dropped to negative 29%, signaling a potential sell-off as active addresses decline while the price rises. Additionally, XRP’s total open interest has risen from $635 million to $845 million, with the funding rate on Binance climbing from 0.05% to 0.08%. This suggests that despite market conditions being overheated, investors are increasingly betting on a further price rally for XRP.

What to Watch For

For XRP to maintain its bullish momentum, it will be crucial for the RSI to cool down below the 60 mark. Traders should be wary of the potential liquidation of long positions if the price of XRP experiences a significant decline.

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