Sometimes the big money tells you what's coming before the chart does. Tuesday gave us one of those moments when XRP (XRP) and Ethereum (ETH) both surged, with XRP up about 5% and a prominent Ethereum whale lifting their long position to $266 million. That's not diversification, that's conviction.
XRP Finally Breaks Free From Its Downtrend
XRP is pushing above the descending trendline that has kept a lid on price action since early November. Traders have been watching this level for weeks because trendlines like these don't break by accident. When they finally crack, it usually means sellers are losing their grip.
Right now, XRP is trading above its short-term EMAs, which confirms early positive momentum. The next test comes at the 200-day EMA near $2.19, a level where several previous rallies ran out of steam. A close above that line would do more than just look good on a chart. It would strengthen the case that we're seeing a broader trend reversal rather than just another head fake.
Support has shifted upward to the $2.1 to $2.12 range. Buyers defended this zone repeatedly during recent consolidation, and holding above it keeps $2.3 in focus. Beyond that, there's a larger resistance zone between $2.55 and $2.6 that could come into play if momentum continues.
The RSI sits near 66, showing strong demand without entering overbought territory yet. That's the kind of setup you often see early in breakouts rather than during exhaustion phases when rallies are about to roll over.
Ethereum Clears Key Levels With Authority
Ethereum is up more than 8% after breaking through the 0.618 Fibonacci retracement at $3,195 and approaching the $3,330 to $3,350 resistance band. The move ends weeks of sideways price action that had traders wondering if ETH would ever find its footing again.
ETH is now trading above all its short-term EMAs and holding above the 200-day EMA near $3,178. This matters because that 200-day level capped upside attempts for nearly a month. Reclaiming it signals that buyers have regained momentum and aren't just borrowing it temporarily.
Support now sits at $3,195 and around the EMA cluster near $3,130. If ETH manages a clear break above $3,350, the next target becomes $3,500, followed by a wider move toward $3,800. The RSI near 74 signals strong demand but hasn't flashed an immediate reversal warning yet.
A Whale Position That Demands Attention
Here's where things get interesting. A major Ethereum whale who correctly positioned ahead of the October 10 market drop has now flipped aggressively long, increasing exposure from $218 million to roughly $266 million within days. The account added about $48 million in new size earlier Tuesday.
The position shows a return on equity of nearly 28% and carries no short exposure. This isn't a hedge, it's a directional bet. The liquidation level sits around $2,117, far below current spot prices, which suggests the holder is prepared to maintain the long position through volatility. That's not the profile of someone expecting a quick flip.
Unrealized profits jumped from about $3.37 million to nearly $14.9 million following the latest addition. When concentrated positioning like this appears, traders pay attention because whale behavior often serves as a gauge of market sentiment. These accounts typically have access to better information, better infrastructure, and less emotion than retail participants.
This shift comes as the broader crypto sector digests Cardano's (ADA) 11% rally Tuesday, which was driven by enthusiasm around the upcoming Midnight privacy network. That move helped lift activity across several large-cap assets and altcoins, creating a backdrop where momentum can spread quickly.
The combination of technical breakouts and aggressive whale positioning doesn't guarantee what happens next, but it does suggest that the risk-reward calculus is shifting. XRP is retesting key resistance while Ethereum is reclaiming levels it lost weeks ago. And somewhere, a whale with $266 million on the line is betting this isn't just another false start.