Ripple (XRP) whales have been embarking on an unprecedented stocking spree lately. Experts and analysts think that whales are anticipating that XRP will experience a price breakout. Whales, who have accumulated close to $ 1 billion XRP tokens in the last two months, surprise the market. These whales, especially known for benefiting from the decline in the value of cryptocurrencies, do not bypass the current widespread decline and add assets to their assets.
Blockchain analytics firm Santiment reports that XRP tokens in whale wallets holding XRP rose 76% between December 2021 and February 2022. According to this report, XRP whales do not leave stone on stone, token on token, and especially stock Ripple (XRP).
Judging by the two-month data, the whales seem to have added 897 million XRP worth 712 million to their wallets. XRP, which was the favorite of whales in November 2020, is starting to become one of the favorites of whales again with these purchases. In November 2020, the largest XRP purchase in history was made with a purchase of $ 1.29 billion. On the other hand, the SEC lawsuit is still ongoing, and the whales’ love of XRP is echoing like an answer to the SEC lawsuit.
XRP has been hovering below $1 for a long time, and as of this writing, Ripple (XRP) is trading at $0.7365. Thus, Ripple remains far behind the all-time high of $3.84. But the whales’ hope for XRP seems not to have died out yet, and whales may be thinking that Ripple will rear up if the SEC lawsuit concludes.
All activities of these macro investors in the crypto market are closely followed by analysts and investors. These giant hodlers have tremendous market power and have been instrumental in the growth of crypto markets.
After the decline that started after the crypto market’s highest levels in the last quarter of 2021, the whales are lurking and not missing the opportunity. While some investors are uneasy with the increase in the activity of whales, some investors think that the predictability of the market has increased.