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Crypto Whales Stockpile $183 Million XRP, No Sell-Off in Sight

2 mins
Updated by Daria Krasnova
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In Brief

  • Recent data reveals that crypto whales have aggressively accumulated 310 million XRP, valued at $183 million.
  • After the purchase, whales have refrained from selling, signaling confidencein XRP's price short-term potential.
  • XRP's daily chart shows a strengthening uptrend, indicating potential for the token's price increase towards $0.64
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Even though Ripple’s (XRP) price has increased this week, on-chain data shows that the token could add to the gains in the coming days. This assertion is because crypto whales have quietly accumulated billions of XRP, indicating strong confidence.

Coincidentally, this aggressive accumulation comes off the back of a broader market recovery. What could this imply for XRP’s price?

Ripple Whales Decide to HODL

According to Santiment, addresses holding between 1 million and 10 million XRP purchased 40 million tokens this week. Meanwhile, those holding 10 million to 100 million accumulated 270 million XRP.

In total, crypto whales recently acquired 310 million XRP, valued at $183 million at the current price. Large acquisitions like this often signal a bullish trend, as they typically precede notable price increases. If XRP follows historical patterns, its price could begin to rise, potentially surpassing recent highs.

Read more: XRP ETF Explained: What It Is and How It Works

Ripple XRP Whale Accumulation.
Ripple Whale Balance. Source: Santiment

Data from CryptoQuant supports this outlook, showing that these whales do not plan to sell off XRP soon. The Whale-to-Exchange Transactions metric, which tracks the movement of coins from external wallets to centralized exchanges (often a sign of impending sales), remains at zero.

This suggests that the whales intend to hold onto their newly acquired XRP, reinforcing a positive outlook for the altcoin’s price.

Ripple XRP Whale to Exchange Transactions.
Ripple Whale to Exchange Transactions. Source: CryptoQuant

XRP Price Prediction: Anticipate Further Gains

On the daily chart, XRP’s price continues to form higher lows (HL). A higher low occurs when a cryptocurrency’s low point is higher than the previous trough, signaling a strengthening uptrend and a potential for a price increase.

Currently, bulls are defending the $0.53 support level, and XRP has risen above the Ichimoku cloud, a key technical indicator for buy or sell signals. When the price is below the cloud, it suggests selling pressure, while a price above the cloud signals a bullish trend.

Read more: How To Buy XRP and Everything You Need To Know

Ripple XRP Daily Analysis.
Ripple Daily Analysis. Source: TradingView

Given XRP’s current position, the next target for the altcoin could be around $0.64. However, if XRP fails to set another higher low, bears may drag the price down to $0.51.

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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Victor Olanrewaju
Victor Olanrewaju is a technical and on-chain analyst at BeInCrypto, where he monitors the activities of mid- and large-scale investors, commonly known as crypto whales, to detect investment trends across diverse cryptocurrencies, including Bitcoin, altcoins such as Solana, XRP, Cardano, and Toncoin, as well as meme coins like Dogecoin, Shiba Inu, and Pepe. Additionally, he covers emerging trends including Tap-to-Earn games, AI tokens, and real-world assets (RWA). Before joining BeInCrypto...
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