- XRP price shows a bullish rebound within the formation of a falling channel pattern, signaling an opportunity for renewed recovery.
- Whale activity suggested accumulation at lower prices as Over 1,389 large transfers above $100,000 were recorded recently reaching a four-month high.
- The potential upswing in XRP price would face renewed selling pressure at 1.57, and $1.78
On Friday, February 6th, the XRP price rebounded 21% to $1.46, reclaiming the majority of loss witnessed during yesterday’s flash crash. While the upswing aligned with broader market relief rally, the XRP price outperformed the majority of major cryptocurrencies, accentuating a strong demand pressure bolstering its $1.2 region. Latest on-chain highlights renewed accumulation from whales and entry of new participants in its network, supporting the price recovery.
XRP Network Activity Jumps to Six-Month High
The cryptocurrency market witnessed a quick bullish rebound on February 6th just a day after the flash crash pushed Bitcoin below $60,000. The uptick is currently viewed as a post-correction relief rally that typically recoups the bearish momentum for the next drawdown.
However, the XRP bulls are trying to renew bullish momentum on recent price surge, evidenced by a notable surge in on-chain activity.
On February 5th, the token fell to around $1.11-$1.14 under general selling pressure across cryptocurrencies, one of the biggest single session declines for the past couple of months. Within about 24 hours it made a strong comeback, gaining between 18-24% to trade between $1.46 to $1.49 on February 6th.
Data collected on-chain by platforms such as Santiment showed higher levels of network engagement during the downturn. Large-value transfers – that is, 1,389 transfers each worth more than $100,000 – reached a four-month high, indicating strong buying interest from large holders at depressed prices. In parallel, the number of unique addresses with active XRP Ledger addresses shot up to 78,727 in an eight-hour time frame, the highest in six months, indicating a surge of participation from existing and potentially new users.
These developments occurred amid a wider recovery in the market with Bitcoin also recovering from earlier losses. The renewed accumulation and market activity during price pullback shows notable conviction in XRP for higher recovery in a few weeks or months.
XRP Price Sparks Fresh Bull Cycle Within Flag
The daily chart analysis of XRP price highlights the recent rebound as part of the falling channel pattern. Since July 2025, two parallel trendlines have been acting as dynamic resistance and support for crypto traders, driving a steady downward trend.
Following the recent flash crash, the XRP rebounded precisely from the support trendline of this pattern, projecting its validity to influence ongoing price trajectory. Historically, a bullish reversal from the pattern’s support trendline recouped the buying pressure in price for higher recovery to overhead trendline.
The momentum indicator RSI bounded from the oversold region accentuated how the price is used post-correction upswing to stabilize an over stretched scenario. The anticipated rise could face potential resistance at $1.57, followed by $1.78.
That said, the coin price need a clear breakout from the pattern’s resistance trendline to signals recovery in market dynamic
On the contrary, if the sellers continue to defend the channel’s upper boundary, the market participants will continue to follow sell-the-bounced sentiment to drive a prolong correction.
Also Read: Bitcoin Price Slides 9% Below $66K as Liquidations Trigger Fresh Selloff
