Is XRP Poised for a Breakout Whales and Market Data Say Yes

  • Ripple whales have purchased over 380 million XRP tokens, signaling growing interest despite ongoing SEC legal challenges.

  • XRP’s price surged 8.40% over the past week, fueled by significant whale activity and large transfers to Bitso.

  • XRP derivatives trading volume increased by 25.67%, with rising open interest and dominant long positions across major exchanges.

Ripple whales seem busy lately, buying up over 380 million XRP tokens valued at roughly $228 million, according to a post by Ali Charts.

This accumulation points to increased interest as Ripple’s legal fight with the SEC continues. Plus, recent moves from a wallet linked to Ripple show big transfers to Bitso, adding to speculation about the coin’s next steps.

#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

Ripple Whales Drive Market Sentiment

Altcoin Buzz reports that over the past week, XRP’s price has climbed 8.40%, fueled by whale activity. One large Ripple-linked wallet sent 100 million XRP to Bitso, worth $57.92 million.

This transfer sparked talks about Ripple’s possible…

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