In a notable trend, prominent investors, often referred to as ‘whales’, are significantly increasing their XRP Coin holdings as September 7 draws near. This uptick in accumulation aligns with the anticipated conclusion of the Ripple case, according to crypto analysts who have tracked these developments closely.
What Are the Recent XRP Investment Figures?
Market analyst Ali Martinez highlighted a surge in XRP purchases by major investors. Over the past ten days, these whales have collectively acquired more than 470 million XRP, which translates to an investment of about 300 million USD. This indicates a strong confidence in the asset as the Ripple situation evolves.
Will Bitcoin Follow a Historical Trend?
Martinez noted that Bitcoin may be on the verge of forming a cup and handle pattern, a signal that often precedes a breakout. Historically, if Bitcoin concludes September positively, it tends to gain momentum, potentially leading to substantial increases in the final quarter of the year.
- Whales have recently purchased over 470 million XRP.
- Investments are valued at around 300 million USD.
- Bitcoin may see significant price movements based on historical trends.
Currently, XRP is priced at $0.61, reflecting a slight decline of 3.4% over the past day, while Bitcoin sits at $60,754. The recent filing for an XRP Coin ETF by Bitwise adds another layer of interest to the market, as confirmed by the company’s spokesperson.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/whales-boost-xrp-holdings-ahead-of-key-date