- Whales bought 60M XRP amid price correction.
- Support level at $2.65 remains crucial.
- Bullish signs despite ongoing bearish market trends.
Over 60 million XRP were accumulated by crypto whales within 24 hours, as revealed by analyst Ali Martinez, despite bearish market sentiments and a significant price correction.
The event highlights ongoing strategic acquisitions by whales, influencing XRP’s market dynamics and causing significant attention among investors, especially as the cryptocurrency faces major bearish pressures.
Whales have acquired 60 million XRP in the past 24 hours, marking a significant movement amid recent price stabilization. This activity follows XRP’s drop from a July high of $3.66 to around $3.13. “Whales bought 60 million $XRP in the last 24 hours” said Ali Martinez, a notable crypto analyst confirming the scale of the acquisition.
Key players in this acquisition include large holders with 10-100 million XRP each. There is no official commentary from Ripple at this stage, but crypto analyst Ali Martinez confirmed the scale of the acquisition.
The influence on the market has been significant, with whales’ strategic accumulation driving a shift in market sentiment. Despite the increase in whale activity, XRP prices have exhibited little upward movement due to prevailing bearish sentiments.
The substantial acquisition has financial implications, with whales investing ~$180 million USD at current valuations. This occurs as the market assesses the impact of a 21% drop in futures open interest, highlighting broader market corrections. Latest cryptocurrency news and analysis for investors
Currently, whale-to-exchange transfer volumes have decreased, indicating a focus on holding XRP rather than distributing it further. Observations also suggest that retail investors are more inclined to panic sell or close positions.
Historical trends show whales often accumulate XRP during low cycles, suggesting potential future market adjustments. The sustained whale activity amid recent price fluctuations could imply intent to capitalize on market stability in anticipation of increased valuations. Insights and updates from the crypto world
