The post XRP Whales Accumulate $2.17 Billion Amid Mixed Market Signals; Potential for Price Rally or Downturn appeared on BitcoinEthereumNews.com.

XRP whales have shown renewed interest, accumulating a staggering $2.17 billion worth of tokens in just three days, igniting speculation of a breakout. Despite this significant build-up, mixed activity signals a cautious stance among traders, particularly with increasing inflow to exchanges. According to Santiment, “The increased whale accumulation could push XRP’s price to a bullish target of $3.50, yet simultaneous selling poses risks for a potential drop to $1.98.” Whale activity surrounding XRP surges with $2.17 billion added in tokens, hinting at volatility ahead. Is a price breakout on the horizon? XRP Whales Intensify Accumulations Amid Mixed Signals In a striking turn of events, XRP whales have collectively acquired approximately $2.17 billion worth of tokens between December 25 and December 28. This build-up has raised optimism about a potential price increase as the year closes. Specifically, wallets holding between 1 million and 10 million XRP tokens increased their total balance from 4.85 billion to 4.95 billion. This increase implies the accumulation of an additional 100 million tokens within a mere three-day period. Moreover, wallets containing between 100 million and 1 billion XRP have also expanded their holdings significantly, rising from 8.86 billion to 9.63 billion, marking a notable addition of 870 million tokens. At a current price of $2.50, these transactions represent a massive influx of capital into the XRP ecosystem, traditionally interpreted as a bullish indicator, igniting speculation that a breakout may be imminent. However, despite strong accumulation, on-chain data from CryptoQuant suggests a more complex picture might be unfolding. The Whale to Exchange Flow metric—which tracks the activity of large holders moving funds to or from centralized exchanges—has seen a rise from 2,243 to 3,585 over the past three days. This implies an increased flow of XRP tokens into exchanges, indicating not just accumulation but also potential selling…

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Filed under: News - @ December 18, 2024 12:23 pm