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XRP Buy Signal! Whales Acquire 590 Million Tokens
The Ripple protocol’s native token, XRP, has been consolidating within a tight range for over a week, prompting some uncertainty in the cryptocurrency market. In light of this consolidation and ongoing market ambiguity, crypto whales and long-term investors have taken advantage of the situation to substantially accumulate the tokens. As per data from on-chain analytics firm Santiment, large-scale investors holding between 100 million and 1 billion XRP tokens have collectively acquired an additional 590 million XRP.
This significant accumulation is indicative of increased confidence among long-term holders and whales in the XRP market. Furthermore, this surge in demand has alleviated selling pressure, suggesting a potential upside rally could unfold in the near future. Despite these accumulations, the price of XRP remains neutral, lacking any drastic changes for now.
Source: coinpedia.org
