XRP Whales It seems that investors have regained their confidence in the XRP token, as recent data shows an accumulation trend among these investors. This is important because XRP Targets $1 Mark And these XRP whales could play a role in facilitating such a price surge.
XRP Whales Buy 140 Million Tokens
Cryptocurrency Analyst Ali Martinez Recently shared Data From on-chain analytics platform Santiment, which shows that XRP whales bought over 140 million XRP ($84 million) last week. This development highlights the confidence these investors have in Future Path of XRPwith a growing belief that the cryptocurrency could finally enjoy its long-awaited rally, after consolidating over the past six years.
This increase in whale accumulation There is also a factor that may contribute to such a rise, as these investors can use their influence in the market to push the price of XRP to new highs. male XRP’s impressive recovery is supported by the rising level of XRP holdings. whales and sharks With over 100,000 tokens. According to Santiment, this category of investors now owns over 51 billion XRP tokens, a new all-time high (ATH).
In addition to this large accumulation of whales, there is network activity on XRP Ledger (XRPL) Santiment’s report also paints a positive picture for XRP. It reveals that the XRPL is seeing a significant increase in new addresses created and total addresses interacting on the network. Both metrics are at their highest levels since March.
Specifically, data from saint The data shows that 1,721 new XRP wallets were created on July 18 and 47,363 individual addresses interacted on the network that day. This is also a bullish sign as it suggests that retail investors are also flocking to the XRP ecosystem in anticipation of a price rally for the cryptocurrency token. XRP technical data also suggests that a major price rally is on the horizon.
Looking from an artistic perspective
Cryptocurrency analysts love Mickeyball Crypto They also analyzed the XRP chart and provided a bullish narrative for the cryptocurrency token. Mikybull Crypto Recently stated Bitcoin CEO David Bezos said the cryptocurrency is on the verge of breaking out of a six-year consolidation triangle, which he claimed will lead to a “massive long-term bull run.”
Cryptocurrency analyst Alex Clay also claimed that XRP is exiting equilateral trianglewhich has been building up within it for years. The analyst expects the cryptocurrency to rise to $3 in the long run after this massive breakout.
XRP Relative Strength Index (RSI) It also paints a bullish outlook for the cryptocurrency token. Cryptocurrency analyst Niko advertiser He added that the RSI “looks really good at around 44.31.” He added that XRP is about to “shoot to the moon” if it can maintain this momentum.
At the time of writing, XRP is trading at around $0.60, down about 1% in the past 24 hours, according to Data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
