XRP Whales Sack 77M Coins From Binance, Price Gains Ahead?
Release: 2024/06/08 15:24 Reading: 456
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=201209
Whales Accumulate XRP Amid Market Volatility
Amidst the recent market downturn, which has impacted the price of XRP, whales have made strategic moves that have sparked speculation about the asset's future value.
Before XRP's recent pullback, whales were observed acquiring large amounts of the cryptocurrency. According to Whale Alert, three whales collectively accumulated 76.9 million XRP from the Binance exchange. Two of these whales had previously acquired significant quantities of XRP.
The addresses rfQ9EcLkU and rarG6FaeY each purchased over 25 million coins, while another unknown whale, rhWj9gaovw, bought roughly the same amount.
Despite XRP's sluggish performance due to the Ripple Labs vs U.S. SEC lawsuit, these whales' continued buying activity suggests strategic investment. They have amassed hundreds of millions of XRP over the past few days, indicating confidence in the asset's future potential.
Some analysts believe this whale activity may foreshadow an upswing in XRP's price. Market optimism has also buoyed expectations, with some predicting XRP could reach a target of $1 in the coming days.
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