CDS Crypto News Ripple Whales Accumulate Over 50 Million XRP in 24 Hours, Signaling Potential Bullish Momentum
Crypto News

Ripple Whales Accumulate Over 50 Million XRP in 24 Hours, Signaling Potential Bullish Momentum

Ripple whales accumulate over 50 million XRP, signaling potential bullish momentum. Analysts predict a major price breakout as XRP shows signs of a strong rally. Stay updated on the latest Ripple news and market trends

77
Ripple Whales Accumulate Over 50 Million XRP in 24 Hours, Signaling Potential Bullish Momentum

Ripple Whales Accumulate Over 50 Million XRP in 24 Hours, Signaling Potential Bullish Momentum

Ali Martinez, a well-known figure on X (formerly Twitter), recently highlighted a Santiment chart revealing that Ripple whales have amassed over 50 million XRP tokens in the past 24 hours. This significant purchase, valued at nearly $30 million at current market rates, suggests a potential positive shift in XRP’s market dynamics.

Ripple Whales Accumulate Over 50 Million XRP in 24 Hours, Signaling Potential Bullish Momentum

Large-scale acquisitions by whales could have beneficial implications for XRP’s value. As whales continue to buy substantial quantities of the token, the available supply on the market diminishes. If demand remains steady or increases, this scarcity could lead to a price surge. Additionally, increased whale activity might be interpreted as a sign of growing confidence, possibly attracting more investors to the Ripple ecosystem.

The chart also illustrates that whale accumulation intensified during the latter half of July, which coincided with XRP’s price reaching a nearly five-month high of over $0.65. However, as the broader crypto market experienced a significant downturn at the start of August—dragging XRP’s price below $0.45—large investors momentarily halted their buying activity.

This trend reversed following a pivotal development in Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). On August 7, Judge Analisa Torres ruled that Ripple must pay a $125 million fine for certain securities law violations—a dramatic reduction from the $2 billion initially sought by the SEC. Many viewed this ruling as a major victory for Ripple, leading to a brief surge in XRP’s price to as high as $0.64. Despite subsequent volatility, the token has since stabilized around $0.58.

Ripple Whales Accumulate Over 50 Million XRP in 24 Hours, Signaling Potential Bullish Momentum

Is XRP Poised for a Major Breakout?

Despite XRP’s recent price fluctuations, some analysts believe that a significant bull run may be imminent. JD, another prominent X user, pointed out that the Bollinger Bands—a technical analysis tool introduced by John Bollinger in the 1980s—have tightened considerably. “When the BB bands narrow, it usually signals that a BIG move is coming! The last two cycles saw 10x-650x gains within a year after similar contractions,” he observed.

Bollinger Bands measure market volatility and potential price movements. When these bands contract, it suggests the asset has experienced low volatility for an extended period, potentially setting the stage for a sharp price move in either direction.

Another analyst DustyBC, also predicts a rally for XRP. Last week, he shared a straightforward chart indicating that XRP could rise above $2 if it breaks to the upside from a flag pattern formed over the past three years. Earlier today (August 27), he reiterated his bullish stance, stating that he’s anticipating “the ultimate XRP breakout.”

Ripple Whales Accumulate Over 50 Million XRP in 24 Hours, Signaling Potential Bullish Momentum

Leave a comment

Leave a Reply

Related Articles

Vitalik Buterin Unveils “Info Finance” to Revolutionize Data Collection and Sharing

Discover Vitalik Buterin's new concept of 'Info Finance' and how blockchain can...

Ethereum vs Bitcoin: What’s Next for the Crypto Market After Record Price Breaks?

Ethereum has surged past the $3,000 mark for the first time since...

Ether Bull Run Accelerates After Positive News from Fed and Trump Election Win

Ether Bull Run Accelerates After Positive News from Fed and Trump Election...

Ethereum Price Nears $3K as BlackRock ETF Sees Record Inflows

BlackRock’s Ethereum ETF sees record $60M inflows as ETH hovers near $3K—market...