The cryptocurrency industry continues to move in a stable and unexciting manner, due to the relative horizontal trend of the leading cryptocurrency Bitcoin (BTC). BTC has shown only a 0.9% change in the last seven days, with Ethereum (ETH) following closely with a 1.3% change. The cryptocurrencies that managed to stay in the green within the top 10 were Litecoin (LTC), Dogecoin (DOGE), and BNB. Meanwhile, even though XRP did not show significant signs of rising, it’s possible to say that the whales have started to move.
XRP Whales Making Purchases
In recent days, XRP’s price turned significantly red, at one point experiencing a 12% drop within a single week. It appears that cryptocurrency whales have taken pleasure in this fall and seem to have made purchases from the bottom. According to the data shared, the whales made a rapid entry into the industry and purchased at least 360 million XRP.
An examination of wallets owning between 10 million and 100 million XRP revealed that they made extra purchases when the price fell. Crypto analyst Ali Martinez displayed the purchases with Santiment data in his statement about the topic.
It’s observed that XRP whales made significant purchases especially on June 23. On that day, the total balances of these whales were seen to be above 4.5 billion XRP. This shows that the industry is actually controlled by these whales. Their total weekly purchase amounts to 360 million XRP or around 172 million dollars.
XRP Giving Bullish Signal
XRP whales have displayed this behavior before and drawn attention. In March, according to Santiment data, 50 XRP whale addresses collected a significant amount of XRP. At that time, the whales purchased 420 million XRP worth 155 million dollars. An unexpected increase was seen in the XRP price following this, which makes the new purchases by the whales quite important.
In his other tweets, Martinez also mentioned that purchase activity could coincide with bull rallies. The famous analyst reminded that there was also an increase in the number of daily active addresses of XRP. Ali stated that the number of daily active wallets on the XRP network was over 130,000, and this could bring a rise soon.
