XRP Whales Accumulate in Large Numbers, Potential and Risks Behind the Market
On December 11, the price fluctuations of XRP attracted the attention of large investors, especially during the price pullback, as whales seemed to be accumulating the token through massive purchases. Notable cryptocurrency analyst Ali Martinez revealed that whales have purchased over 100 million USD worth of XRP during the recent downturn, showing confidence in the long-term potential of this asset.
Whale Activity: A Bottom Signal?
Recently, the price of XRP briefly fell below 2 USD, reaching a low of 1.92 USD, but quickly rebounded to 2.38 USD, rising 7.20% in the past 24 hours. Meanwhile, whale activity has significantly increased, with Whale Alert data showing that Ripple transferred as much as 200 million XRP (worth approximately 463 million USD) in a single transaction, further intensifying market speculation about the potential of this asset.
Additionally, CryptoQuant reported that in the past 30 days, whales transferred 2.66 billion XRP to Binance, marking the highest level of whale activity since April 2024. This indicates that large investors in the market are actively intervening or are optimistic about XRP's future performance.
Despite the market sentiment leaning towards optimism, XRP's price still faces certain uncertainties. The current support level of 2.23 USD is crucial. If it successfully breaks through this level and heads towards 2.94 USD or 3 USD, it may further strengthen XRP. However, market instability may still lead to price fluctuations, and investors need to closely monitor these key price levels.
Can XRP continue to break through in the future? With the large-scale accumulation by whales and favorable support from the macro environment, XRP's outlook may become brighter, but it also faces the risk of a technical pullback in the short term.
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