Million

<p><a href="https://bitcoinist.com/xrp-whales-make-exchange-outflows-price-surges-21/">XRP whales</a> look to have regained their confidence in the XRP token, with recent data showing an accumulation trend among these investors. This is significant as <a href="https://bitcoinist.com/xrp-price-to-reach-1-68/">XRP eyes the $1 mark</a> and as these XRP whales could play a role in facilitating such a price rally.&nbsp;</p> 
<h2 id="xrp-whales-buy-140-million-tokens">XRP Whales Buy 140 Million Tokens</h2> 
<p><a href="https://bitcoinist.com/dogecoin-whales-buying-millions/">Crypto analyst Ali Martinez</a> recently shared <a href="https://x.com/ali_charts/status/1815662684710310366" rel="nofollow" target="_blank">data</a> from the on-chain analytics platform Santiment, which shows that XRP whales bought over 140 million XRP ($84 million) this past week. This development highlights these investors’ confidence in <a href="https://bitcoinist.com/symmetrical-30000-xrp-price/">XRP’s future trajectory</a>, with a growing belief that the crypto taken could finally enjoy its long-overdue rally, having consolidated for the past six years.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-311763" src="https://bitcoinist.com/wp-content/uploads/2024/07/XRP-1-2.png?w=512&amp;resize=512%2C242" alt="XRP 1" width="512" height="242" data-recalc-dims="1"> 
<p>This increase in <a href="https://bitcoinist.com/bitcoin-accumulation-mega-whale-holdings-hit-highest-levels-in-2-years/#:~:text=Whale%20accumulation%20has%20largely%20been,effect%20of%20increased%20Bitcoin%20buying.">whale accumulation</a> is also a factor that could contribute to such a rally, as these investors could use their market influence to push XRP’s price to new highs. Santiment recently <a href="https://x.com/santimentfeed/status/1813235453933592676" rel="nofollow" target="_blank">noted</a> that XRP’s impressive rebound is supported by the rising level of coins held by xrp <a href="https://bitcoinist.com/bitcoin-shark-whale-investors-go-to-the-market-heres-how-much-btc-they-bought/">whales and sharks</a> with over 100,000 tokens. According to Santiment, this category of investors now holds over 51 billion XRP tokens, a new all-time high (ATH).&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-311764" src="https://bitcoinist.com/wp-content/uploads/2024/07/XRP-2-2.png?w=512&amp;resize=512%2C349" alt="XRP 2" width="512" height="349" data-recalc-dims="1"> 
<p>In addition to this significant whale accumulation, network activity on the <a href="https://bitcoinist.com/xrp-ledger-major-upgrades-what-to-expect/">XRP ledger (XRPL)</a> also paints a bullish picture for XRP. Santiment revealed that the XRPL is witnessing a notable increase in new addresses created and total addresses interacting on the network. Both metrics are at their highest levels since March.&nbsp;</p> 
<p>Specifically, data from <a href="https://bitcoinist.com/altcoins-fresh-address-activity-santiment-reveals/">Santiment</a> shows that 1,721 new XRP wallets were created on July 18 and that 47,363 individual addresses interacted on the network that day. This is also a bullish signal as it suggests that retail investors are also flocking into the XRP ecosystem in anticipation of higher prices from the crypto token. XRP’s technicals also suggest that a significant price rally is on the horizon.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-311765" src="https://bitcoinist.com/wp-content/uploads/2024/07/XRP-3-1.png?w=512&amp;resize=512%2C350" alt="XRP 3" width="512" height="350" data-recalc-dims="1"> 
<h2 id="looking-from-a-technical-perspective">Looking From A Technical Perspective</h2> 
<p>Crypto analysts like <a href="https://bitcoinist.com/bitcoin-gets-156000-price-tag/#:~:text=More%20recently%2C%20crypto%20analyst%20Mikybull,peak%20in%20this%20bull%20run.">Mikybull Crypto</a> have also analyzed XRP’s chart and provided a bullish narrative for the crypto token. Mikybull Crypto <a href="https://www.newsbtc.com/analysis/xrp/xrp-is-on-course-to-rise-to-150/" rel="nofollow noopener" target="_blank">recently stated</a> that the crypto token is about to break a six-year consolidation triangle, which he claimed will lead to a “long sustained enormous rally.”&nbsp;</p> 
<p>Crypto analyst Alex Clay also claimed that XRP is breaking out of a <a href="https://bitcoinist.com/symmetrical-30000-xrp-price/">symmetrical triangle</a>, which it has been consolidating inside for years. The analyst predicts that the crypto token could rise to as high as $3 in the long term following this massive breakout.&nbsp;</p> 
<p><a href="https://bitcoinist.com/xrp-momentum-smashes-above-six-year-long-rsi/">XRP’s Relative Strength Index (RSI)</a> also paints a bullish outlook for the crypto token. Crypto analyst Nico <a href="https://x.com/Nico369K/status/1815347813796004055" rel="nofollow" target="_blank">stated</a> that the RSI is “looking really good at around 44.31.” He added that XRP is about to “take off to the moon” if it can keep this momentum.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-311766" src="https://bitcoinist.com/wp-content/uploads/2024/07/XRP-4.png?w=512&amp;resize=512%2C261" alt="XRP 4" width="512" height="261" data-recalc-dims="1"> 
<p>At the time of writing, XRP is trading at around $0.60, down almost 1%in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/xrp/" rel="nofollow noopener" target="_blank">data</a> from CoinMarketCap.&nbsp;</p> 
<img loading="lazy" decoding="async" src="https://www.tradingview.com/x/cLZfR0wO/" alt="XRP price chart from Tradingview.com XRP whales" width="3286" height="1518">

XRP Whales Go On $84 Million Buying Spree To Lock Down 140 Million Tokens

Съдържание

Bitcoinist

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