XRP whales buy dip, how does it affect the price?

XRP whales' dip purchases can have a significant impact on the price of this cryptocurrency. When whales, i.e. large investors holding large amounts of XRP, act to buy during times of price decline, this is often seen as a positive signal for the market.

First of all, the accumulation of XRP by whales during periods of price decline demonstrates strong belief in the potential for future price increases. According to data from Santiment, whales recently accumulated about 590 million XRP within a week, worth about $1.29 billion, which could create upward pressure on prices as demand from investors increases. Smaller investments may follow suit.

Furthermore, if positive market sentiment increases on the back of whale buying, XRP price could break key resistance levels, such as $2.62, thereby heading towards highs. more, even 2.9 USD. Conversely, if accumulation weakens, the price could fall below key support levels.

In short, XRP whales' dip buying activities can not only create price momentum but also have a strong impact on market psychology and the behavior of other investors.