According to a closely followed analyst, major cryptocurrency players have acquired $2.5 billion worth of XRP and Dogecoin 
$0.32353 within just a few days. This influx of capital is indicative of significant movements within the market, and the implications for smaller investors could be substantial.
XRP Purchases
Crypto trader Ali Martinez reported on social media that large whales are accumulating the payment-focused altcoin XRP. With the current price, XRP ranks third by market capitalization, and the total value of these purchases exceeds $2.54 billion.
“Whales purchased nearly ten billion XRP in just 48 hours!” – Ali Martinez
Dogecoin Purchases
Martinez also noted that the popular meme asset Dogecoin is experiencing a similar purchasing trend. In a two-day period, whales acquired 470 million Dogecoin, raising its value to approximately $158.86 million.
“Whales bought 470 million Dogecoin in just 48 hours!” – Ali Martinez
Analyst’s Predictions
By analyzing the charts, Martinez predicts that XRP will see a significant price increase in February. He identified two potential entry points: the first is above the strong trend line at $2.05, and the second is a breakout above $2.50. He stated that the target price is $10.
“The first entry point is above $2.05, and the second is above $2.50. The target price is $10.” – Ali Martinez
Capital Flow in the Crypto Market
Martinez observed a decrease in capital inflow into digital assets over the last 30 days. The capital entering the crypto market has fallen from $134 billion a month ago to $68 billion, reflecting a 49% decline.
“Capital inflows into the crypto market decreased by 49% last month.” – Ali Martinez
These developments could significantly influence the movements of major investors and market dynamics. It is crucial for traders to monitor market trends following such large purchases.
