Crypto News– Ripple witnessed a 10% correction, falling to $0.65 after achieving a three-month high of $0.72 last week. The cryptocurrency market, including XRP, experienced a pullback from the exuberance of the previous week. However, amidst this, on-chain data reveals intriguing developments involving large XRP holders, commonly known as whales. These strategic moves by bullish whales could signal an impending breakout for XRP.
Is a Ripple Price Rally Imminent? Millionaire Investors Shift 60 Million Dollars
While the overall market and several major cryptocurrencies went through a period of consolidation, the token price remained relatively steady, finding support around the $0.65 mark. Notably, data from Santiment, a blockchain analytics platform, illustrates a significant increase in the cumulative balance of wallets holding 1 million to 100 million. Within a 48-hour timeframe, these whales added 90 million tokens to their holdings, bringing the total from 8.93 billion to 9.02 billion.
At the current market price of $0.66, the newly acquired 90 million token is valued at approximately $60 million. Such substantial buying activity among whales suggests a strategic positioning for a potential breakout, especially after bouncing back from the $0.65 support level.
If this trend continues, the token could be poised to retest the $0.70 area in the upcoming days. Traders and investors are closely monitoring these whale movements, anticipating potential price movements in the token market.