"XRP rebounds nearly 20% in a day on whale buying…$300 million absorbed over 48 hours"

XRP has rebounded nearly 20% in a short period, buoyed by a surge of large-scale whale buying. Analysts say that after the sharp drop triggered panic selling, large investors aggressively absorbed supply, quickly reversing the price move.

According to crypto-focused media outlet BeInCrypto on the 7th, over the past 48 hours large wallets holding between 100 million and 1 billion XRP bought an additional 230 million XRP in total. That amounts to about $335 million. The purchases were concentrated just before XRP’s rebound began in earnest.

Large-scale accumulation absorbs circulating supply and helps ease selling pressure. Following this buying, XRP appears to have formed a short-term bottom after rebounding quickly from the selloff zone. The market views the whale buying as a typical pattern in which it acts as a catalyst for price stabilization during a correction.

Network indicators are also showing signs of recovery. Over the same period, the number of new XRP addresses totaled 5,182, up 51.5% in 48 hours, the highest level in about two and a half months. This suggests the move is being accompanied by fresh inflows rather than a recirculation of existing liquidity.

On the price front, XRP is currently trading around $1.46, close to the short-term resistance level of $1.47. The outlet noted that if buying continues, additional upside toward the psychological resistance level of $1.70 is also being discussed.

However, if it fails to break higher, volatility could widen again. If selling pressure re-emerges around $1.58, a drop below $1.37 cannot be ruled out, and in that case the downside could open toward $1.28, according to the analysis.