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Ripple whales made headlines by acquiring over 100 million XRP tokens during the recent market crash, fueling optimism for the cryptocurrency’s recovery. This strategic move has sparked significant attention as XRP attempts to rebound from its earlier losses.
Ripple Whales Bag 100M XRP, Stirring Market Optimism
Data from crypto analyst Ali Martinez revealed that Ripple whales amassed 100 million XRP amid heightened market turbulence. The buy-the-dip strategy underscores increased confidence in XRP’s potential as it weathers a challenging market phase.
The broader crypto market faced massive liquidations of over $1.76 billion during this period, hitting altcoins particularly hard. Despite this, Ripple whales displayed resilience, countering the selloff with substantial acquisitions. However, contrasting signals have emerged, with over 2.66 billion XRP moved to Binance in the past month, raising concerns about potential selling pressure.
XRP’s Price Performance and Outlook
XRP is showing signs of recovery, gaining 6% intraday to trade at $2.369. The token’s 24-hour range spans a low of $1.912 to a high of $2.411. This rebound comes after XRP dipped to the $1 level, further solidifying its position amid increased whale activity.
While the recent accumulation indicates bullish sentiment, the significant transfers to exchanges have introduced an air of uncertainty. The market will closely monitor these developments to gauge XRP’s trajectory in the coming days.
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