$XRP has had a tense week as whales dumped 510 million token, creating a significant supply shock. However, instead of collapsing, the market has shown surprising resistance.
🔹 Despite the selling pressure from large wallet, the Taker Buy CVD indicator is still rising sharply. This shows that active buying is absorbing all the dumped good, keeping the price above the rising trendline and defending the $2,023 support zone.
🔸 A positive on chain signal is that the Network Value to Transaction ratio has dropped 71.13% to 154.70. Network Value to Transaction decline amid sideway price action indicate increased network utilization, providing transactional support to support current valuation.
🔹 XRP is being compressed within a Symmetrical Triangle pattern.
Support: $2,023 Must hold to avoid a deep correction.
Resistance: $2,218 Decisive Breakout Point.
MACD: Attempting a bullish crossover.
🔸 Funding Rate spike over 127%, indicating strong bullish confidence. Speculative capital is betting on a breakout, but also increasing the risk of liquidation if price turns to retest support.
The market is at a critical point Whales selling against strong buying pressure and improving network performance. A break above $2,218 would trigger further upside.
Do you think the Buyer have enough power to swallow the whale 510 million token to push the price past $2.22?
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