The Moscow Exchange has significantly expanded its cryptocurrency offerings by launching four cryptocurrency indices and settling futures markets, including one for XRP. According to reports from AMBCrypto, the exchange activated trading of indices tracking Ripple [XRP], Binance Coin [BNB], Solana [SOL], and TRON [TRX]. The new XRP index will track real-time data from Binance and Bybit, with the ticker MOEXXRP following previous listings of Bitcoin and Ethereum. However, trading is currently available only to qualified professional traders.
The launch coincided with significant accumulation activity among large XRP holders. As reported by AMBCrypto, medium-to-large-sized holders holding at least 10K XRP set a new record with over 332,000 wallets. This accumulation pattern suggests that large players are increasingly convinced of XRP's global potential, with whales, sharks, and institutions all simultaneously accumulating XRP. The XRP Ledger has also been growing, though price action has not yet reflected this increased activity.
On the 4-hour timeframe, XRP appears to be rising above a slanting trendline support that has been in place since April. According to AMBCrypto analysis, the price has formed a double top resistance level at around $1.50 at press time, which could present a challenge if XRP reverses to the upside. The MACD bars are red but very faint, indicating seller exhaustion, while the MACD and Signal lines are nearing a crossover, suggesting potential reversal. However, the Chaikin Money Flow (CMF) reading is -0.05, though the graph is pointing north and appears positioned at a previous reversal point.
The combination of increased liquidity from the Moscow Exchange's new offerings and large holder accumulation creates conditions for a potential reversal in XRP price action. As reported by AMBCrypto, the large accumulation and hike in liquidity could help trigger a reversal from the current trendline support level. However, traders should remain cautious of a breakdown below the slanting support level, which would invalidate the anticipated reversal scenario. The broader crypto derivatives market also shows increasing momentum, with futures trading volumes climbing across major exchanges and traders appearing more confident after weeks of market stabilization.
