In the last 24 hours, crypto whales have accumulated over 60 million XRP, indicating ongoing strategic acquisitions amid negative market sentiments.
Whale Activity
Crypto whales acquired 60 million XRP, marking a notable event in the market. This process of accumulation has been confirmed by analyst Ali Martinez. 'Whales bought 60 million $XRP in the last 24 hours,' he noted.
Market and Price Correction
The acquisition occurred amid a price correction, with XRP dropping from its July high of $3.66 to $3.13. Despite the increased trading volumes from whales, XRP's price exhibited little upward movement due to ongoing bearish sentiment.
Future Prospects
Such whale accumulation may signal an intent to capitalize on market stability, which often occurs during low cycles. Whale activity could indicate potential market shifts in the future, especially given the assessment of the impact of a 21% drop in futures open interest.
The XRP market situation and whale activity highlight the significance of strategic accumulation in uncertain conditions. The future of the cryptocurrency depends on its ability to maintain key support levels.
