XRP whales continue to accumulate, with over $570 million worth of XRP acquired since February, boosting price prospects. Continue reading at DailyCoin.
- XRP whales have acquired a staggering 1.1 billion XRP.
- Historical patterns suggest that whale accumulation often precedes price increases for XRP.
- XRP Ledger experienced a remarkable surge in network activity.
A recent analysis of Santiment data by crypto analyst Ali has provided valuable insights into the activities of XRP whales in the cryptocurrency market. The findings highlight the significant influence these entities possess, as their unconventional transactions have started to shape the sentiments surrounding the market.
Ali’s analysis has revealed the astounding accumulation of 1.1 billion XRP, valued at around $570 million, by whales since February. These XRP whales have been strategically and actively acquiring the cryptocurrency since the beginning of 2023, capitalizing on moments of market decline or consolidation to fortify their holdings.
Whales seized the opportunity amidst a 12% decline in late June and acquired a staggering 360 million XRP, which equated to $170 million. This intriguing occurrence bears resemblance to a historical precedent observed in late 2020, wherein a similar circumstance heralded a significant surge in the XRP/USD pair.
Source : [XRP Whales Capitalize on Price Fluctuations to Tune of $570M](dailycoin.com/xrp-whales-capitalize-price-fluctuations-570m/) by Kyle Calvert - DailyCoin by Kyle Calvert / July 10, 2023