Tech

What Are Ripple Whales Up To?

8 hours ago
Bitcoin Ethereum News

Whales buy 250M XRP in 48 hours. Price nears ATH as ETF talk grows and key chart patterns suggest a possible breakout is coming.

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Large holders of XRP have moved quickly, adding 250 million tokens to their wallets within 48 hours. This comes as price levels and market activity show early signs of a possible shift.

Analysts and traders are monitoring key metrics, including whale behavior, exchange flows, and technical resistance zones.

Whale Wallets Increase Holdings Rapidly

According to market analyst Ali Martinez, wallets holding between 100 million and 1 billion XRP accumulated 250 million tokens over a two-day period. This is a sharp rise after several weeks of flat activity among large holders. The change points to renewed movement from a group often linked with strategic positioning.

During this same period, the price of XRP moved from about $2.87 to $2.94. While this increase is modest, similar buying behavior in the past has often led to further price movement. Whether that trend continues is now a key focus for traders.

Meanwhile, data from CryptoQuant shows that XRP reserves on Binance rose sharply in late September. The total increased from around 3.1 billion to 3.5 billion XRP in a single day. It is the largest rise in reserves seen this year.

XRP Ledger Exchange Reserve - Binance (2)
Source: CryptoQuant

Between January and August, XRP balances on Binance mostly declined as the asset’s price moved higher. The recent inflow may point to added liquidity for trading, internal shifts by the exchange, or possible preparation for selling. For now, XRP remains steady at close to $3.00.

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Price Nears Long-Term Resistance

XRP is currently trading near a major resistance level formed by its previous all-time high. Based on a multi-phase chart pattern shared by CW, the current market phase has historically aligned with strong upward price movement. The asset remains just below the key breakout zone.

Targets above this level include $6.61 and $21.5, based on technical projections. Market attention is also on reports that an XRP ETF may be approved by mid-month. CW noted,

“The real rally for $XRP is starting. It just needs to break above its ATH line.”

XRP price chart
Source: CW/X

XRP vs Bitcoin Chart Builds Pressure

The XRP/BTC chart shows a W-pattern forming over the past six years. The 0.000027 BTC level remains the main resistance. According to CryptoWZRD, a breakout above that line would confirm a reversal and may trigger stronger performance for XRP against Bitcoin.

In a separate update, the analyst reported a strong daily close for XRP, but noted that a move from XRP/BTC still depends on a drop in Bitcoin Dominance. Support is marked at $2.75, while a push above $3.15 could open the way to $3.65 or higher.

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Source: https://cryptopotato.com/250000000-xrp-bought-in-2-days-what-are-ripple-whales-up-to/