XRP Rockets Epic $81.5 Million in Bullish Whale Activity in Just Two Days

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As a seasoned crypto investor with years of experience navigating the volatile waters of the digital asset market, I must admit that the recent XRP developments have piqued my interest. The massive purchase of over 50 million XRP by Ripple whales, as reported by Ali Martinez, is not just a simple transaction but a significant move that could potentially shape the future of this cryptocurrency.

According to crypto analyst Ali Martinez’s latest report, Ripple Whales (those holding more than 1 million XRP) have purchased over 50 million units of XRP during the weekend. As per data from Santiment, this addition has significantly increased the total holdings of these whale wallets to approximately 4.29 billion XRP tokens. Interestingly, Martinez’s chart shows a noticeable increase in the last two days, suggesting an ongoing trend among these large XRP holders.

It’s fascinating to see a significant surge in whale XRP wallets happening during the upward trend of the widely recognized cryptocurrency, XRP. This rise occurred after the price of XRP broke free from the triangle formation it had been stuck in since 2018 on Nov 12th.

#Ripple whales bought more than 50 million $XRP over the weekend!

— Ali (@ali_charts) November 25, 2024

In a span of thirteen days following that event, the value of XRP dramatically increased by an astounding 131% to reach a peak of $1.63. Simultaneously, significant investors, known as whales, purchased approximately 460 million XRP. Out of this total, about 50 million XRP, equating to 9%, were added to their holdings over the past weekend.

What comes first?

The coincidence of increased whale presence and the surge in XRP prices raises an intriguing query: Was the price rise due to whale-led actions, or did the whale accumulation result from the rising prices?

Initially, it appeared that the surge in XRP’s price took even its biggest investors by surprise. However, their subsequent increase in purchases indicates that they had a good understanding of the factors driving this market rally, which were perhaps not so obvious to others.

On the weekends, there’s been an increase in whale purchases of XRP, indicating a growing curiosity among investors as the market’s perspective on XRP evolves. However, whether this trend persists will depend on future developments in the overall market and any additional factors that may arise.

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2024-11-25 16:44