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XRP Whale Up $2.33 Million On A $9 Million Long Position. What Does He Know?
A prominent XRP whale has recently made headlines in the crypto market, astonishingly securing an unrealized profit of $2.33 million from a whopping $9 million long position. This staggering gain has sent shockwaves throughout the community, with many wondering what could possibly justify such a bold and confident move.
As the cryptocurrency continues to trade at $3.05, having touched both an intraday high of $3.08 and a low of $2.97, this whale’s conviction in the face of mixed signals is truly remarkable. It is worth noting that this kind of confidence typically stems from a thorough analysis of market trends, insider information, or even broader institutional foresight.
Despite the XRP price action being characterized by recent weakness, coupled with a roughly 20% drawdown since mid-July highs, the whale’s profitable long position suggests the possibility of bullish momentum building. However, it is essential to acknowledge that recent data paints a more complex picture. In the past three weeks alone, over 640 million XRP tokens worth approximately $340 million have been dumped by whales, indicating significant distribution and casting doubt on short-term potential.
Technical analysts warn that if XRP fails to hold critical support near $2.65, it could potentially slide towards the $2.00 zone, marking a full retracement of June’s rally. Certain indicators, such as whale outflows and double-top patterns, indicate growing structural weakness in the market.
On the other hand, there are valid reasons to believe that this whale’s position may not be misplaced. Recent events have been fueled by speculation surrounding the potential inclusion of cryptocurrencies like XRP in 401(k) retirement plans under US law. This policy shift could significantly expand retail and institutional demand.
Moreover, ongoing regulatory proceedings involving Ripple and the SEC continue to hold considerable weight. A pending decision on Ripple’s appeal withdrawal could provide much-needed clarity on XRP’s legal status, ultimately unlocking institutional flows that have remained sidelined due to compliance uncertainty.
Lastly, in Asia, institutional interest is also gaining traction. Japan’s SBI Holdings has filed for a Bitcoin-XRP ETF, while custody infrastructure around XRP continues to mature, particularly in South Korea where major fintech players are integrating XRPL-based solutions.
In essence, it appears that the whale’s conviction might be rooted in an accumulation of factors: improving macro sentiment, technical setups forming at long-term support zones, and possibly even insider awareness of upcoming regulatory or institutional shifts.
Source: timestabloid.com
