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Whales purchased XRP for $1.29 billion. What will happen to the price?
Since last week, the price of XRP has remained within a narrow range between the resistance level of $2.62 and the support level of $2.20. Currently, the altcoin is trading at $2.34.

Large investors holding between 100 million and 1 billion tokens took advantage of the sideways movement and the fading bullish sentiment to increase their cryptocurrency holdings. According to analytics platform Santiment, this group of investors acquired approximately 590 million XRP worth $1.29 billion over the past week. They now control 8.91 billion tokens.
If large holders are actively buying the coin, they are confident that the price of XRP will rise. Such whale activity could create upward pressure on the market and provoke a rally, as retail investors often watch the actions of whales.

There is also optimism in the derivatives market. This is evidenced by the positive funding rate of the altcoin, which stands at 0.008%.
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