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Ripple whales buy 300 million XRP in two days, altcoin holds steady above key support

 

Ripple whales buy 300 million XRP in two days, altcoin holds steady above key support







  • Ripple whales holding between 10 million and 100 million XRP tokens have accumulated the altcoin in the past two days. 
  • XRP whales added 300 million tokens between July 12 and 15, per Santiment data.
  • XRP extended gains by nearly 3% on Monday, trades above $0.5300. 

Ripple (XRP) noted the highest weekly gains in 2024 over the weekend as XRP holders celebrated the one-year anniversary of Judge Torres’ ruling in the SEC vs. Ripple lawsuit. XRP rallied to a peak of $0.5661 on Saturday, July 13. 

The altcoin extended gains by nearly 3% on Monday and trades at $0.5333 at the time of writing. 

Daily digest market movers: Ripple whales buy 300 million XRP in two days

  • Data from on-chain intelligence tracker Santiment shows that Ripple’s large wallet investors added 300 million XRP to their holdings between July 12 and 15. 
  • The accumulation of the altcoin by whales is typically considered bullish for an asset, therefore, it supports a thesis of further gains in XRP. 
  • While the cohort of large wallet investors holding between 10 million and 100 million tokens added 300 million XRP, another cohort holding between 100,000 and 1 million XRP accumulated 10 million tokens in the same timeframe.   Read more

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