Whales Accumulate 40 Million XRP In 48 Hours – Where’s The Price Headed?
13 Octobre 2024 - 6:00PM
NEWSBTC
Popular crypto analyst Ali Martinez shared data suggesting an
interesting accumulation trend among XRP investors despite ongoing
price uncertainty. According to Martinez, who referenced data from
on-chain analytics platform Santiment, XRP whales have made
substantial purchases totaling around 40 million XRP within the
last 48 hours. Related Reading: Baby Doge Coin Rockets 200% In 30
Days – What’s On The Horizon? This significant accumulation trend
coincides with a rise in large transactions to and from
cryptocurrency exchanges, as highlighted by whale transaction
tracker Whale Alerts during the same period. Whales Buy Millions Of
XRP In a recent post on social media platform X, Martinez shared a
Santiment data chart that illustrates the total holdings of XRP
addresses containing between 1 million and 10 million XRP tokens.
He highlighted that these specific cohorts of traders have
collectively acquired approximately 40 million XRP over the past 48
hours, amounting to an investment of around $22 million. While this
figure might appear modest in comparison to the more substantial
movements typically seen from XRP whales, it marks a significant
development as it represents the first notable inflow into these
wallets since the beginning of the month. The chart shared by
Martinez reveals a concerning trend. The total holdings of these
whale wallets have been in a steep decline since the start of
October. On October 1, the cumulative holdings for this group were
recorded at approximately 3.93 billion XRP. However, in a matter of
days, these wallets experienced a substantial loss of around 130
million XRP, driving their total holdings down to a three-month low
of 3.8 billion XRP by October 8. However, recent accumulation by
the whale addresses has seen their collective holdings increase to
3.85 billion in the past 24 hours. According to data from Whale
Alerts, there have been multiple instances of large XRP
transactions entering and leaving crypto exchanges in the past 24
hours. The largest transaction occurred with the transfer of 104
million XRP tokens worth $55 million from an unknown wallet into a
new unknown wallet. Another notable transaction was the transfer of
52 million XRP tokens worth $27.8 million from an unknown wallet
into crypto exchange Bybit. A while later, 30 million XRP tokens
were transferred from Bybit into another private wallet. Is XRP
Headed To $0.5 Or $0.6? Current price action shows XRP
consolidating between an upper range of $0.54 and a lower range of
$0.52 within the past seven days. This lack of clear direction
suggests low volatility and a lack of interest among crypto
traders, as evidenced by a trading volume decline of approximately
30% in the last 24 hours. Related Reading: Whales Hoard $90 Million
In Bitcoin: A Sign Of What’s To Come? However, the recent increase
in whale holdings could signal a renewed interest among large
investors in XRP, hinting at a potential shift in market sentiment
as the new week begins. Historically, increases in whale
accumulation have often been accompanied by a steady rise in the
XRP price. If this trend continues, it could replicate the
accumulation seen in September, which propelled XRP to a peak of
$0.668. Featured image from Pexels, chart from TradingView
Flow (COIN:FLOWUSD)
Graphique Historique de l'Action
De Oct 2024 à Nov 2024
Flow (COIN:FLOWUSD)
Graphique Historique de l'Action
De Nov 2023 à Nov 2024