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<p>The post <a href="https://coinpedia.org/news/xrp-whales-add-50-million-tokens-breakout-incoming/">Ripple Whales Add 50 Million Tokens, What Next For XRP Price?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In the ongoing selling pressure across the cryptocurrency market, top assets including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP (XRP) have experienced massive price declines. Amid this downturn, <a href="https://coinpedia.org/news/ripple-vs-sec-whats-next-after-the-125m-settlement-in-xrp-lawsuit/">Ripple</a> whales saw this as a perfect buying opportunity and added millions of tokens at lower prices.</p> 
<h2 class="wp-block-heading" id="h-xrp-whale-buys-over-50-million-tokens-nbsp"><strong>XRP Whale Buys Over 50 Million Tokens&nbsp;</strong></h2> 
<p>On August 27, 2024, a prominent crypto analyst shared a post on X (previously Twitter) that XRP whales have accumulated over 50 million tokens in the last 24 hours. With this massive accumulation, they have increased their holding by approximately $29.5 million.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw">#Ripple</a> whales have scooped up over 50 million <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> in the past 24 hours, boosting their holdings by approximately $29.5 million! <a href="https://t.co/nqNMG2J5Ng">pic.twitter.com/nqNMG2J5Ng</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1828371242308575529?ref_src=twsrc%5Etfw">August 27, 2024</a>
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<h3 class="wp-block-heading" id="h-surge-in-xrp-open-interest"><strong>Surge in XRP Open Interest</strong></h3> 
<p>With this massive accumulation, XRP’s open interest has risen by 2.2% in the last four hours, according to the on-chain analytic firm CoinGlass. This increase in open interest suggests growing interest from investors amid the recent price decline.</p> 
<h2 class="wp-block-heading" id="h-xrp-price-prediction-nbsp"><strong>XRP Price Prediction&nbsp;</strong></h2> 
<p>Expert technical analysis hints bullish outlook for XRP as it is forming a bullish inverted head and shoulder price action pattern. Looking at the XRP’s daily chart, the $0.633 level is crucial as it serves as the neckline of this bullish pattern.&nbsp;&nbsp;</p> 
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/08/27210716/XRPUSDT_2024-08-27_21-07-03-1024x448.png"><img decoding="async" width="1024" height="448" src="https://image.coinpedia.org/wp-content/uploads/2024/08/27210716/XRPUSDT_2024-08-27_21-07-03-1024x448.png" alt="" class="wp-image-343404" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/27210716/XRPUSDT_2024-08-27_21-07-03-1024x448.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/27210716/XRPUSDT_2024-08-27_21-07-03-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/27210716/XRPUSDT_2024-08-27_21-07-03-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/27210716/XRPUSDT_2024-08-27_21-07-03-1536x672.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/27210716/XRPUSDT_2024-08-27_21-07-03-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/27210716/XRPUSDT_2024-08-27_21-07-03.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
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  Source: Trading View
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<p>If XRP breaks out above this level and closes a daily candle above $0.633 there is a high possibility of a significant upside rally toward the $0.75 level.&nbsp;</p> 
<h3 class="wp-block-heading" id="h-key-liquidation-zones"><strong>Key Liquidation Zones</strong></h3> 
<p>As of now, the major liquidation levels are near $0.581 on the lower side and $0.604 on the upper side, as traders are heavily leveraged at these levels, according to Coinglass data.</p> 
<p>If overall market sentiment shifts and XRP rises to the $0.604 level, nearly $14.52 million worth of short positions will be liquidated. Conversely, if the sentiment remains bearish and the price falls to the $0.581 level, approximately $4.86 million worth of long positions will be liquidated. The higher concentration of short positions indicates a bearish sentiment for XRP.</p> 
<h3 class="wp-block-heading" id="h-current-market-conditions"><strong>Current Market Conditions</strong></h3> 
<p>As of now, XRP is trading near $0.595 and has experienced a decent price surge of 0.7% in the last 24 hours. Meanwhile, its trading volume has increased by 17% during the same period, indicating increasing participation from traders amid the recent price drop.</p>

Ripple Whales Add 50 Million Tokens, What Next For XRP Price?

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