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.

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.

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.”