- September is historically a bearish month for crypto, but XRP whales are making a major contrarian bet
- Santiment data shows XRP whales have accumulated nearly $1 billion in tokens until now
- This massive buying pressure could be the catalyst to break the “September curse” for XRP’s price
September is here, and for crypto traders, that’s usually bad news. As the market’s worst-performing month historically, ‘Red September’ has already kicked off with a pullback.
But on-chain data shows XRP whales have accumulated nearly $1 billion worth of tokens that follows $268 million in exchange outflows and a slew of new institutional interest.
Whales Aggressively Buying XRP Dip
With the market staying weak, on-chain data shows large, institutional buyers are using this as a major accumulation opportunity.
How much have whales accumulated, according to Santiment?
Data from on-chain analytics firm Santiment reveals that whale wallets holding between 10 million and 100 million XRP have added 340 million tokens to their bags in the past two weeks. At current prices, that’s a buying spree worth nearly $962 million.
Related: XRP Fights to Hold the $2.70 Line But Analysts Have Mapped Out $3.70 XRP Target
Are long-term holders taking custody?
Yes. In a classic sign of long-term conviction, CoinGlass on-chain tracker shows nearly $268 million worth of XRP has been withdrawn from centralized exchanges in just the last ten days.
XRP’s Institutional and Corporate Demand Expands
The buying isn’t just from anonymous whales. The demand is also coming from publicly-named corporations and fast-growing institutional products.
Which major companies are buying XRP?
Japanese gaming firm Gumi announced a purchase of ¥2.5 billion ($17 million) worth of XRP for treasury management, while Hyperscale Data revealed plans to allocate a portion of its $125 million capital raise toward XRP and Bitcoin.
How is the institutional market growing?
CME Group reported that XRP futures surpassed $1 billion in volume in record time, while 15 different fund managers have now filed with the SEC to launch a spot XRP ETF.
Can XRP Whale Buying Defeat the “September Curse”?
This massive wave of buying is happening as XRP’s price tests a make-or-break technical level. The key question for September is whether this powerful whale accumulation can overpower the historically bearish seasonality.
What are the key chart levels to watch?
XRP is currently trading around $2.80, consolidating after testing the $2.77 support level, as shown in the daily chart. Maintaining this zone is critical to prevent a slide toward $2.40.
Bollinger Bands suggest XRP is near the lower band, reflecting oversold conditions, while the RSI hovers near 42, indicating neither extreme bearishness nor bullish momentum. The MACD, however, remains slightly negative, signaling caution in the short term.
If bulls can defend this level, the next major resistance is at $2.90. A clean break above that could open the path toward $3.70 and then $4.00.
Related: Don’t Just Buy the Dip, Buy the Strength. Five Altcoins to Watch Now
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