XRP has one of the strongest communities in crypto. It’s actually fascinating how much support this token has, considering its slow price action throughout 2024.
However, some positive news broke last night when popular crypto analyst Ali shared an update on X, formerly known as Twitter. Ali reported that Ripple whales bought over 380 million $XRP in the past 10 days, worth around $228 million.
Ripple Whale Activity and XRP Price Movement
The XRP chart shared by Ali shows some interesting patterns. The XRP price has been swinging between $0.40 and $0.59 in the past few months. Despite the ups and downs, there’s been a general upward trend since early August.
What’s really eye-catching is the whale activity. These big players, holding between 10 and 100 million XRP, have been on a buying spree. Their accumulation started ramping up in the second half of August, right when the price was in a bit of a lull.
#Ripple whales bought over 380 million $XRP in the past 10 days, worth around $228 million! pic.twitter.com/Fs9ayiHITA
— Ali (@ali_charts) September 19, 2024
Then, boom! Early September saw a massive spike in whale purchases. This coincided with the XRP price hovering between $0.50 and $0.60. It’s during this time that whales scooped up that 380 million XRP tokens.
It’s worth noting that these whales seem to have a knack for timing. They tend to load up during price dips and consolidations, which could be a sign they’re expecting the price to climb in the future.
Read also: XRP Price Prediction – Could a $1.25 Breakout Lead to a Long-Term $25 Surge?
Is XRP The Best Crypto to Buy Now or Are There Alternatives?
Some traders prefer to stick with established projects that have large market caps, like XRP. These coins often offer more stability and are considered less risky.
However, there are traders who like to take on more risk for potentially higher rewards. One meme coin that’s caught some attention is PandaWorld’s PADW. PandaWorld aims to mix different forms of entertainment – games, casinos, and meme coins – into a single platform.
So, typical meme coins that rely heavily on community hype, but PandaWorld offers a unique revenue-sharing model. Token holders can earn passive income through staking rewards generated from the platform’s various activities, such as play-to-earn (P2E) games and casino operations. Interested traders can check out their presale website for more details.
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The post Ripple Whales Go on a Massive Buying Spree – Will XRP Price Explode? appeared first on CaptainAltcoin.
