Despite mixed price actions for XRP, significant accumulation by large holders creates optimism among investors.
Increase in XRP Accumulation by Large Holders
According to crypto analyst Ali Martinez, large holders of XRP sharply increased their stock by acquiring 900 million XRP over the past two days. This buying wave from addresses holding between 100 million and 1 billion XRP has alleviated concerns about ongoing market trends.
Current State of the XRP Market
Despite XRP's price falling below the $3 mark, the recent large-scale accumulation by whales, estimated at over $2.88 billion, brings hopes of a recovery. The surges observed since July partly explain the renewed confidence amid recent price corrections of major cryptocurrencies.
Future Prospects for XRP
Interest in XRP is growing not only due to large investor purchases but also because of discussions about a potential ETF launch and active developments by the Ripple team. Market participants maintain an optimistic stance regarding the possibility of XRP reaching new all-time highs.
The increase in XRP accumulation by large holders underscores potential growth opportunities despite the current volatility in market prices.
