Within just a week, whales accumulated over $526 million worth of XRP, marking the largest accumulation in nearly three years. This increase in purchasing activity came after XRP's price first broke the $1 mark in 2021, sparking interest and hope among investors.
Whale activity reflects confidence
Recently, whales acquired approximately 453 million XRP tokens, accounting for a significant portion of the asset's circulating supply. Cryptocurrency experts say that such a large-scale accumulation often indicates confidence in XRP's future performance. When these big players acquire tokens, they reduce the supply on exchanges, thereby increasing demand and driving up prices.
The cryptocurrency market capitalization has reached $3.13 trillion
It is noteworthy that while large institutional buyers are purchasing in bulk, small individual traders appear to be selling their holdings. Reports suggest that funds holding less than 1 million XRP sold a total of 75.7 million shares during this period. Market sentiment has changed significantly: large buyers are optimistic about XRP, betting on its price increase, while small traders are more cautious.
Historical trends contain potential returns
Historically, significant accumulation by whales has often led to large fluctuations in XRP's price. Analysts point out that such configurations have historically yielded substantial returns, with some increases even exceeding 1300%.
Currently, XRP has reached a key support level (as shown in the 'Channel B' chart), which is highly concerning because if this resistance level is breached, the price is likely to surge significantly. Market observers indicate that if the current trend continues, XRP's price is expected to reach the $13 to $15 range in the near future. This prediction is based on past performance and current favorable technical signals.
