XRP Whales Accumulate 130 Million Coins Amid Volatility
- XRP whales bought over 130 million tokens.
- Renewed interest highlighted despite volatility.
- Potential for upward price momentum.
XRP whales purchased over 130 million XRP within 24 hours amid rising interest, reflecting strategic accumulation during price volatility.
This acquisition could signal potential market stability for XRP, as whales’ activities often precede shifts, impacting cryptocurrency trends and investor strategies.
Whale Accumulation
XRP whales purchased over 130 million tokens in a day, sparking interest amid market volatility. The whales’ actions occurred as XRP rebounded from a key support level. Significant whale wallets accumulated XRP, with market analyst Ali confirming the activity on Twitter. Ali stated:
“Whales bought the dip, scooping up over 130 million $XRP in the past 24 hours!”source
Immediate Market Impact
Immediate effects include stabilizing XRP’s price above $3.04, marking a rebound from earlier declines. Analysts suggest potential for further upward movement if resistance levels are breached.
Historical Context
The whale accumulation followed a period of substantial outflows in July, reinforced by market liquidations that dropped XRP’s price by 10%. No major regulatory changes or statements from Ripple executives have been noted. The accumulation may indicate confidence among large XRP holders.
Analysts suggest potential price rallies if support levels hold. Historical trends, coupled with recent whale activities, paint a possible bullish outlook for XRP. Further on-chain data will provide clarity on market direction.
