Despite speculation and price fluctuations in the cryptocurrency market, major holders are actively accumulating XRP tokens. In the latest buying spree, they acquired 60 million XRP over the past 24 hours.
Accumulation of XRP by Ripple Whales
In the last 24 hours, large investors known as 'whales' bought 60 million XRP tokens, according to data from analyst Ali Martinez.
Market Impact of Purchases
This purchase totals over $180 million at the current XRP price, creating additional buying pressure from whales. In July, these whales accumulated 2.2 billion tokens, contributing to a surge in the asset to an all-time high of $3.6. The price later fell to $3 due to negative news, but whales took the opportunity to buy another 130 million XRP.
Current Price and Prospects for XRP
XRP is currently trading just below the crucial support level of $3.15 after a 10% weekly drop. If this support is broken, it could drop to the next significant level at $3, as pointed out by analyst Ali Martinez.
The continued purchases by Ripple whales at lower prices highlight their concern over the market's future dynamics, despite the current price fluctuations of XRP.
