- Ripple whales accumulate 50 million XRP in 24 hours, showing strong market interest.
- Whales add $29.5 million in XRP during price dip, indicating strategic accumulation.
- XRP whales’ steady buying signals confidence despite recent market fluctuations.
Ripple whales have been on the move, accumulating over 50 million XRP in the past 24 hours. This significant acquisition has boosted their holdings by an estimated $29.5 million. The buying spree highlights the continued interest and activity in the XRP market, especially among large investors known as whales.
A recent post by Ali reveals a clear pattern of whale transactions. These high-volume traders, holding between 1,000,000 to 10,000,000 XRP, have been making significant moves. The chart shows a link between whale transactions and XRP’s price movements, emphasizing their influence in the market.
The accumulation happened during a time of noticeable price changes for XRP. The chart shows sharp price movements, especially in mid to late July. These fluctuations match up with increased whale activity, suggesting these large holders are strategically buying when the price dips, getting XRP at favorable rates.
Additionally, the data indicates that whale transactions over $100,000 in USD have been on the rise. This increase points to a growing confidence among these investors in XRP’s potential. Their activity is often seen as a market signal, reflecting broader sentiment and future price expectations.
Ripple, the company behind XRP, has also been busy, forming partnerships and expanding its reach. This ongoing development could be a reason why the whales are increasing their holdings. As Ripple continues to grow, the demand for XRP may also increase, leading to more market activity.
At press time, XRP was trading at $0.5874, marking a 1.51% decrease in the last 24 hours. The market cap stands at approximately $33 billion, with a trading volume of over $1.1 billion, representing a 35.05% increase in the same period. Despite the recent dip, the significant increase in trading volume indicates ongoing interest in the asset.
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