Ripple Whales Bag 1B Coins Sparking Optimism, What’s Next?

In the latest XRP news, the whales are making headlines with their recent massive transactions. According to recent reports, the large investors have accumulated nearly 1 billion coins recently, reflecting the strong confidence of the investors towards the asset. Amid this, a top expert has revealed key price levels to watch for Ripple’s native crypto ahead, which has also caught the investors’ eyes.

XRP News: Ripple Whales Making Big Move

The Ripple whales are once again on their buying spree, as evidenced by the recent reports. This XRP news has further cemented bets towards a potential rally in the crypto’s price in the coming days. So, here we take a close look at the latest developments in the market.

Whales Accumulate 1 Billion Coins

In a recent X post, top market analyst Ali Martinez has shed light on the accumulation trend of the large investors or whales. According to his social media post, Ripple whales have purchased 1 billion XRP coins in only about two days, showcasing their robust interest in the coin.

Meanwhile, this development also had an impact on the crypto’s price, as evidenced by its recent performance. However, this massive accumulation trend also comes after Ripple Labs recently moved 300 million XRP to an unknown wallet, valued at around $682 million, which has fueled market speculations.

How’s XRP Price Performing?

XRP price today was up around 1.2% and exchanged hands at $2.35, while its trading volume fell 9% to $4.9 billion. Notably, the crypto hovered between $2.36 and $2.26 in the last 24 hours, reflecting the impact of the Ripple whales buying on the price. Further, the asset’s Futures Open Interest rose 3% to $4.37 billion, CoinGlass data showed.

Notably, here we explore the key levels to watch for the crypto, as highlighted by a top market expert.

Key Levels To Watch For Ripple’s Native Crypto

In a recent analysis shared on the X platform, prominent expert Dark Defender has shared key levels to watch soon for XRP. Besides, he also hinted towards a potential “upside break-out” for the crypto soon. According to the post, the analyst said that the key targets for XRP stand at $2.40, $2.86, $4.55, and $5.85.

Having said that, it is expected that the crypto might rally to around $6 in the coming days. For a potential move towards the south, the support levels for the crypto are at $2.23 and $2.13, the analyst noted.

In a separate X post, Dark Defender has compared XRP’s surge to Ethereum. He noted that after September 24, “XRP has appreciated three times more than Ether.” Comparing the price surges, he said that XRP will soon flip the later in the “3rd wave we are in.”

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.