Despite predictions, XRP struggled to reach $0.65 in August. As the month ends, crypto whales accumulated 50 million XRP, valued at $29.50 million, possibly moving XRP closer to $1.
According to Santiment, whales holding 1-10 million tokens made recent purchases. This accumulation could reverse the recent 3% price decline.
The number of active Ripple addresses rose from 15,000 to 18,100, indicating increased transactions and a bullish outlook.
TraderSZ suggests XRP could rally towards $1, surpassing its current resistance at $0.61. On the daily chart, XRP trading above the 20-day EMA signals bullish momentum.
If sustained, XRP might surpass $0.63 and head toward $1. However, increased selling pressure could push it down to $0.54.
