BTC, XRP, FTT, and RSR Market Analysis – Whales Keep Accumulating Bitcoin (BTC) Despite Sell-Offs by Retail Investors

The crypto market is consistently struggling to escape from the overall control of bears while there is still optimism about a likely breakout.

The crypto market continues to experience turbulence, with bears maintaining a strong grip despite optimism for a potential breakout.

According to the latest data, several prominent crypto tokens, including BTC, XRP, FTT, and RSR, are still facing pressure as they attempt to overcome the bearish momentum and await a bullish market turn.

BTC Price Analysis:

Bitcoin (BTC), the leading crypto token, is currently experiencing minimal sell-offs. The data shows that the flagship crypto token is currently trading at $61,895.27, indicating a 0.11% price decrease in the last twenty-four hours. Additionally, BTC has seen a decline of nearly 6.05% over the last week.

However, despite the retail investors' massive token selloffs, as indicated by the CVD indicator, whales continue to accumulate. As a result of this activity, these large token holders are reportedly reaching their highest balance levels to date. The respective activity among the whales reflects the market confidence, suggesting that the beginning of a bull run could be on the horizon. Furthermore, Bitcoin’s RSI stands at 43, indicating that it is slightly oversold rather than extreme and hinting at a potential bullish recovery in the case of trending toward 50.

XRP Price Analysis:

$XRP is currently trading in a sideways pattern as shown in the chart below. The token is reportedly moving between the well-established sell and buy walls, signifying a consolidation period. The crypto token is now changing hands at $0.5292, showing a price dip of 0.41% in the recent 24 hours. Over the last week, it has seen a 13.91% plunge. Moreover, there have been minimal gains along with a deficiency in its price movement. This also suggests that a breakout is looming, with a likely spike in volatility in the upcoming time.

FTT Price Analysis:

$FTT, the native token of the now-defunct crypto exchange FTX, has recently seen significant gains. At present, the crypto token is trading at $2.60 with a 10.42% price rise in the last twenty-four hours. Along with that, it has experienced a staggering 105.10% surge over the recent month. This resilient price movement denotes a positive market sentiment. The RSI indicator stands at a value of 73.8128. Hence, $FTT’s current momentum points toward a resilient market direction.

RSR Price Analysis:

$RSR token is currently experiencing resistance at $0.0066. It has reportedly made a couple of attempts to break through the respective resistance level without any success. While the 3rd challenge to the above-mentioned resistance level is looming, it could denote a pivotal moment in the case of price action. Recently, the CVD indicator signified a huge selling pressure. Nevertheless, now it is showing early indications of buying. This activity points toward a likely momentum shift. Thus, if buying pressure persists and fortifies, $RSR could potentially break through the resistance level of $0.0066, leading to a bullish rally.