XRP has been steadily recovering from recent price setbacks, showing strong bullish potential. The altcoin has been moving in an upward trajectory, backed by large wallet holders known as whales. 

These whales are significantly influencing XRP’s price action by accumulating massive amounts of the token.

XRP Whales Seem Ready For Rally

Whale addresses holding between 10 million and 100 million XRP have been actively accumulating. These investors have bought approximately 270 million XRP worth around $730 million over the past week. This accumulation indicates a strong conviction in the future of cryptocurrency; especially as large wallet holders tend to have considerable influence on price movements.

These whale investors appear confident that XRP is on the verge of further gains. Their buying activity suggests that they believe the price will continue its recovery and push past resistance levels. As these whales continue to accumulate XRP, it solidifies the bullish sentiment, helping to fuel potential price rallies in the days ahead.

The overall momentum of XRP is shifting positively, with its weighted sentiment showing a notable uptick for the first time in a month. For the past few weeks, sentiment has been predominantly bearish as investors showed caution. However, this shift to positive sentiment reflects growing confidence in XRP’s price recovery and suggests an increase in buying activity. 

As investor sentiment improves, the price of XRP could see significant upside movement. This shift in sentiment might encourage more participants to enter the market, adding fuel to the recovery and pushing XRP to new heights.

XRP Price Aims At $3

XRP is currently trading at $2.70 and is looking to secure this level as a support floor. A successful establishment of support at $2.70 is crucial for XRP to continue its upward momentum. Breaking past the resistance of $2.95 and flipping it into support would further confirm a rally, pushing XRP toward higher targets.

In the short-term, XRP’s price could be influenced by its ongoing formation of an ascending wedge pattern. While this pattern is typically bearish in the long term, it is suggesting a short-term bullish breakout. If XRP manages to break through its all-time high (ATH) of $3.40 and higher, it could extend its rally.

However, if XRP fails to breach and maintain $2.70 as support, it could see a sharp decline toward the next support level at $2.33. This would invalidate the current bullish pattern and outlook, potentially delaying or reversing the recovery.

BERA has experienced a remarkable 30% price surge in the past 24 hours, recovering a significant portion of early February losses. Investors welcomed the rally, hoping for sustained gains. 

However, market indicators suggest potential headwinds that could challenge the altcoin’s uptrend.

Berachain Bears Make Their Moves

Despite the recent rally, BERA’s funding rate remains deeply negative. This indicates that a majority of traders are placing short contracts against the cryptocurrency. Such positioning suggests that market participants anticipate a pullback in the coming days, aiming to capitalize on a potential decline.

The negative sentiment underscores a cautious outlook among investors. Many are hedging against the possibility of a reversal, signaling a lack of confidence in the sustainability of BERA’s price increase. As short interest builds, downward pressure on the altcoin could intensify.

From a technical standpoint, BERA’s macro momentum presents warning signs. The Relative Strength Index (RSI) has entered the overbought zone, crossing the 70.0 threshold. Historically, such levels have preceded price corrections, as traders take profits and momentum slows.

If the RSI sustains its position in this territory, selling pressure could emerge, leading to a potential price reversal. While bullish sentiment remains intact for now, technical signals suggest a possible downturn if buying volume does not support further gains.

BERA Price May Not Make A New High

Currently, BERA trades at $8.13, attempting to overcome resistance at $8.72. The altcoin is also working to solidify $7.71 as a crucial support level. Holding above this price would strengthen bullish sentiment, potentially paving the way for further gains.

However, prevailing market conditions indicate a bearish outlook. The combination of negative funding rates and overbought RSI levels suggests that BERA may struggle to sustain its uptrend. A failure to maintain support at $7.71 could see the altcoin testing lower levels, with $7.07 acting as the next significant support. If selling pressure increases, a further decline toward $6.24 is possible.

On the other hand, if broader market momentum remains bullish, BERA could defy expectations. A successful breach of the $8.72 resistance would set the stage for a retest of its all-time high at $9.23.

In such a scenario, the bearish thesis would be invalidated, and continued buying pressure could push BERA into price discovery mode.

Solana’s price has sharply declined since it reached an all-time high of $295.83 on January 18. At press time, SOL trades at $171.81, plummeting 41% since then.

The altcoin, which had been trading within an ascending parallel since 2023, has now dipped below the lower line of the channel. This signals a decisive shift in market trends and hints at a further price decline.

Bears Take Control as Solana Breaks Its Multi-Year-Long Channel

Solana had traded within an ascending parallel channel since June 2023 and has now broken below it for the first time in the past year. 

The channel is formed when an asset’s price moves between two upward-sloping parallel trendlines. It indicates a sustained bullish trend with higher highs and higher lows. The upper line acts as resistance, while the lower line serves as support.

As with SOL, when the price falls below the lower line, it signals a break in the uptrend and suggests that selling pressure has overwhelmed the buyers’ strength. This breakdown indicates bearish dominance in the SOL market, indicating further declines as traders exit long positions.

In addition, the coin has recorded negative Elder-Ray Indexes since January 27, confirming the strengthening bearish bias against SOL. At press time, this is at -30.4. 

The indicator measures the strength of bulls and bears in the market. When the index is negative, bear power dominates the market, signaling strong selling pressure and potential further price decline.

SOL Eyes $136 Amid Weak Buying Pressure

According to its Fibonacci Retracement tool, SOL’s price risks falling to $136.62 if buying pressure wanes further. If the bulls fail to defend this support level, the coin’s price could dip to $120.72, a low it last reached in September.

However, a resurgence in the demand for SOL will invalidate this bearish outlook. In that scenario, its price could attempt a retest of its breakout line. A successful retest could propel its price above the lower line of the ascending parallel channel and toward $220.58.