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Заголовок XRP Bullish Signal: Whales Go On $223 Million Buying Spree
Дата 20240921

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XRP Bullish Signal: Whales Go On $223 Million Buying Spree

XRP Bullish Signal: Whales Go On $223 Million Buying Spree

by Keshav Verma

3 mins ago

in XRP

0

On-chain data shows the XRP whales have gone on a large shopping spree
recently, a sign that could be bullish for the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта s price.

XRP Whales Have Been Expanding Their Holdings Recently

As pointed out by analyst Ali Martinez in a new post on X, the XRP whales have
shown significant net expansion during the past ten days. The indicator of
relevance here is the Supply Distribution from the on-chain
analytics firm Santiment, which tells us about the amount of XRP that a given
wallet group is currently holding.

Related Reading: Toncoin Becomes #1 Crypto Ahead Of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin & Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum In
This Metric

The addresses or investors are placed into these cohorts based on the total
number of coins that they are carrying in their balance. The 1 to 10 coins
group, for instance, includes all holders who own between 1 and 10 XRP.

The whale cohort is of interest in the context of the current topic. Whales
typically refer to entities carrying between 10 million and 100 million XRP.
At the current exchange rate, the lower end converts to $5.8 million, while
the upper one to $58 million.

Generally, the influence of any entity in the market goes up the more supply
that they control, so these investors, who clearly have very large holdings,
would be among the most powerful. That said, their individual moves may not
still be relevant for the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, but the cohort s collective
behavior certainly can cause ripples in the market. If nothing else, watching
the group can at least provide information about what the sentiment among
these large hands is.

Below is the chart shared by the analyst, which shows the trend in the XRP
Supply Distribution specifically for the whales over the last few months.

The value of the metric appears to have been climbing in recent days | Source:
Santiment on X

As the graph shows, the XRP whales have seen their combined holdings shoot up
recently. These investors have added a net 380 million XRP (around $223
million) to their wallets over the last ten days.

The most aggressive part of this buying spree had come while the asset had
been trading around the $0.53 level, suggesting that the whales thought the
asset to be offering a profitable buying opportunity.

And indeed, soon after this accumulation, XRP started on a 10% recovery run.
From the chart, it s apparent that whale buying had similarly fueled the
asset s surge in the first third of August as well.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Short-Term Holder Supply Decreasing At Fastest Pace
Since 2012: What’s Going On?

The whales have continued to pick up more coins over the last few days, so
it s possible that the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта could see a continuation of the
rally in the near future.

A reversal in the Supply Distribution of the whales, however, can be to keep
an eye on, as it may spell a bearish outcome for the token instead, since it
would mean that the whales are now selling .

XRP Price

At the time of writing, XRP is trading around $0.587, up almost 4% over the
last week.

Looks like the price of the coin has been heading up in the past few days |
Source: XRPUSDT on TradingView

Featured image from Dall-E, Santiment.net, chart from TradingView.com

============= Итог: 4,1980 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Ethereum#Bitcoin 4,1980 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Bitcoin#Ethereum


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