Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
XRP Demand Skyrockets: Whales Amass $400M Holdings

XRP Demand Skyrockets: Whales Amass $400M Holdings

YellowYellow2025/02/20 22:33
By:Yellow

Recent on-chain data reveals that XRP whales have been actively accumulating the asset, potentially indicating a bullish outlook for its price.

Over the past 48 hours, substantial accumulation by XRP whales has occurred , according to a new analysis by Ali Martinez. The focus of this observation is the "Supply Distribution" metric, provided by the on-chain analytics firm, Santiment. This metric indicates the amount of XRP held by different wallet cohorts.

Wallets are categorized based on the number of coins they hold. For context, the relevant range for this analysis spans holdings of 10 million to 100 million XRP, equating to a value between $26.5 million and $265 million at current market prices. Investors within this substantial range are typically classified as whales, given their significant market influence.

The accompanying chart illustrates the recent trend in XRP Supply Distribution. It shows a notable increase in whale holdings, highlighting that these large investors have been net buyers of the cryptocurrency. Over the last few days, they added approximately 150 million XRP, worth around $400 million, to their portfolios. This accumulation coincides with a decline in XRP's market price, suggesting these whales view the dip as temporary.

In a separate analysis, Martinez noted that XRP was breaking out of an Ascending Triangle formation, a pattern observed in technical analysis (TA) during price consolidations. This pattern, characterized by an upper horizontal trend line and a rising lower trend line, often precedes price surges.

Martinez previously stated, "XRP looks to be breaking out of an ascending triangle on the lower time frames, setting up a potential 4% move toward $2.68!" This analysis proved accurate, as XRP's price has risen following the breakout, achieving the predicted target.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.

2

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!