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XRP Buy Signal! Whales Acquire 590 Million Tokens
The cryptocurrency market has been witnessing a series of unusual events, and the recent acquisition by crypto whales and long-term holders is one such instance. According to an on-chain analytics firm, Santiment, these large-scale investors have added an astonishing 590 million XRP tokens worth $1.29 billion to their portfolio.
Despite the price remaining stagnant in a tight range for over a week, this sudden accumulation of XRP by whales and long-term holders is a clear indication that they are not losing faith in the token’s future prospects.
The data provided by Santiment shows that these investors holding between 100 million and 1 billion XRP tokens have collectively added an additional 590 million XRP to their portfolio. This sudden surge in demand for XRP indicates a growing confidence among whales and long-term holders, which may be a precursor to a price breakout.
The $2.41 price level is now being closely watched by traders and investors alike, as the asset is struggling to break out of its current flag-and-pole pattern on the daily chart.
If this bullish pattern is broken, it could potentially lead to an increase in XRP’s value by up to 80% in a short period.
Source: coinpedia.org
