In his analysis, which was posted on the TradingView platform, crypto analyst MadWhale outlined the repeating psychological cycle that often dominates meme coin markets and suggested that XRP may not be immune from it.
According to MadWhale, this trend is not limited to meme coins alone, but XRP’s current trading behavior is showing signs of fitting the same mold. MadWhale described whales as “masters of illusion,” capable of buying large chunks to pump the price, spread optimism, and then sell into the frenzy.
This strategy is starting to create a cycle of retail fear and greed in XRP, where smaller traders are often left holding losses while whales re-enter the market at bargain prices. He noted that technical tools like Volume Profile, RSI, and the Fear and Greed Index can expose these plays. For instance, heavy volume accumulation at specific levels combined with overbought RSI readings and extreme greed sentiment show the perfect moment when whales start selling.
The analyst’s projection on the chart shows a possible 14% decline to another major support resting around $2.40. This zone has been identified as the main daily support area, and reaching it would mark the latest stage of XRP’s corrective move inside the channel. On the other hand, any rebound attempts would first need to clear the $3 resistance.
At the time of writing, XRP is trading at $2.80, up by 1.4% in the past 24 hours.
