XRP is making headlines, thanks to some big players in the market. Recent data shows that large XRP holders, often called “whales,” have been buying up huge amounts of the cryptocurrency.
Whale Activity: A Bullish Sign?
Analyst Ali Martinez noticed a significant increase in XRP holdings by whales. This was spotted using “Supply Distribution” data from Santiment, a company that tracks cryptocurrency activity. Santiment groups wallets based on how much cryptocurrency they hold. The focus here is on whales—those holding between 10 million and 100 million XRP. That’s roughly $26.5 million to $265 million at current prices!
The data clearly shows these whales have been accumulating XRP. Over the past few days, they’ve added about 150 million XRP to their holdings – a whopping $400 million investment! This is particularly interesting because they’re buying while the price is dropping, suggesting they think this is a temporary dip.
XRP Price Surge After Breakout
Martinez also pointed out that XRP recently broke out of a technical pattern called an “Ascending Triangle.” This is a chart pattern that often suggests a price increase is coming. Martinez predicted a potential 4% jump to $2.68, and it seems his prediction was accurate, as the price has indeed risen following the breakout.
In short, big investors are betting on XRP, and the price is reacting positively. This could be a bullish signal for the future of XRP.
