Crypto whales, those big-money investors, made some serious moves recently, gobbling up billions of dollars in XRP and Cardano (ADA) in a single day, according to analyst Ali Martinez.
XRP Whale Activity
Martinez reported that whales purchased nearly $2.16 billion worth of XRP in just 24 hours. At the time, XRP was trading around $2.41. That’s a huge amount of XRP changing hands!
Cardano’s Whale Spree
The buying spree wasn’t limited to XRP. Whales also scooped up over $345 million in ADA during the same period. This translates to approximately 420 million ADA tokens, with ADA priced at around $0.86.
Total Spending and Market Predictions
In total, Martinez estimates that whales spent a staggering $2.51 billion on XRP and ADA in a single day. But what does this mean for the future price of these cryptocurrencies?
XRP Price Predictions: A Bearish Pattern?
Martinez points to a potential “head-and-shoulders” pattern on the XRP chart. This pattern often signals a price reversal, suggesting a possible downturn. He warns that if XRP breaks below the pattern’s neckline (around $2), it could fall to $1.20. However, a daily close above $3 could send XRP soaring to $5.
ADA Price Predictions: A Bullish Outlook?
For Cardano (ADA), Martinez sees a more optimistic outlook. He suggests that a 12-hour candlestick close above $1.19 could trigger a rally, potentially pushing ADA as high as $2.20.
Disclaimer:
This information is for general knowledge and shouldn’t be considered financial advice. Always do your own research before investing in cryptocurrencies. Investing in crypto is risky, and you could lose money./p>
