Over the past week, XRP has demonstrated subtle price fluctuations, hovering between $0.62 and $0.61, while other top-20 cryptocurrencies like Cardano (ADA), Arbitrium (ARB), and Solana (SOL) experienced more pronounced upward movements.
Insights from Analyst Ali_Charts on X reveal intriguing activity among Ripple whales, indicating the acquisition of approximately 360 million $XRP within the week. This substantial investment amounts to an estimated $223 million, reflecting a notable move by significant players in the XRP market.
#Ripple whales have bought around 360 million $XRP over the past week, worth roughly $223 million! pic.twitter.com/VKmRowPwbo
— Ali (@ali_charts) December 22, 2023
Recent data from Whale Alert, a platform dedicated to monitoring whale transactions, reinforces the narrative of heightened XRP movements among high-net-worth investors. The transactions, highlighted on X, underscore the dynamic nature of XRP holdings and the strategic decisions made by influential players in the crypto space.
XRP Price Action To Watch
Despite a marginal 1% decline in XRP’s price over the past 24 hours, the cryptocurrency has experienced an impressive 75% gain in the yearly chart. However, it’s noteworthy that XRP has ceded its position in market capitalization, influenced by the remarkable growth of the Solana ecosystem throughout the year.
As Ripple whales exhibit signs of fresh accumulation, the broader market dynamics continue to shape the narrative for XRP. The nuanced price movements, coupled with substantial whale activities, add layers of complexity to XRP’s trajectory in a crypto landscape characterized by evolving trends and strategic maneuvers by key stakeholders.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: sweettomato/123RF // Image Effects by Colorcinch