Ripple whales bought roughly 1.54 billion XRP in about 96 hours, a stash worth around $2 billion, after the token slid on a failed US Senate vote on the CLARITY Act. XRP has since bounced off a $1.27 low, and analysts point to the buying as a sign of a possible bullish breakout.
Large XRP holders have gone on a buying spree just as the token was reeling from a legislative setback. Analyst Ali Martinez, citing Santiment data, reported that Ripple whales accumulated over 1.5 billion tokens in the past four days, a move whose timing lines up closely with the token's recent slide.
Whales Buy Into the Dip
These large holders, whose activity is often mirrored by retail investors, accumulated approximately 1.54 billion XRP in about 96 hours, a stash worth around $2 billion at current prices. The buying spree began around the same time as the CLARITY Act setback in the US Senate, which had pushed the token's price down sharply.
That accumulation coincided with a recovery: XRP surged to over $1.45 on Friday and Saturday after bottoming at $1.27 on Tuesday following the Senate vote.
According to Ali Martinez: "translate into price action, leading to a bullish breakout". He has previously said XRP is primed to challenge the $2.00 level.
Where the Targets Sit
Another analyst, Crypto Patel, noted that XRP is sitting above a long-term accumulation zone on the two-week chart and has reclaimed its long-term structure. Building on that view, Patel outlined a run toward the first resistance at $1.70, with $3.00 next if that level breaks, and a long-term target of $10 or beyond.
The whale buying spree began right as XRP bottomed at $1.27 following the Senate vote, and the token has since climbed back above $1.45.
Source: CryptoPotato
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