The post XRP Bulls Aim for 30% Price Rally—Whale Activity and Bullish Pattern in Play appeared on BitcoinEthereumNews.com.

  XRP whales have accumulated 380 million XRP over the past ten days, driving a recent price increase. Analysts predict a bullish surge for XRP, with whales continuing to buy as the price rises. Recent on-chain data reveals a significant accumulation of XRP by large investors, commonly referred to as whales. These entities, which are between 10 million and 100 million XRP, have increased their balance over the past ten days, which may indicate that the bulls are gearing up for a comeback. Whale Activity Pushes XRP Price Higher Santiment’s Supply Distribution metric shows that XRP whales have accumulated 380 million XRP or $223 million in total. This accumulation spree began when XRP was trading at $0.53, which shows that these high-net-worth investors thought that the price at which the asset was being sold was a good one to buy. #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 In the past, whale activities have often determined the direction of a particular cryptocurrency’s price. This is because the behavior of these buyers and sellers is more likely to cause waves in the market owing to the fact that they command a large measure of market share. In this instance, whales loaded up on XRP prior to a 10% price increase, thus supporting the notion that their activities can lead to an uptick in prices. XRP whales have not demonstrated any intention of stopping their purchasing spree as the price of XRP climbs. This ongoing accumulation indicates that these major investors expect further price appreciation, which in turn increases the chances of a further rally in the near future. This is not the first time whale behavior has had a positive impact on the price of XRP.…

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Filed under: News - @ September 21, 2024 5:24 pm