XRP slipped back toward the $1 level, yet large holders kept buying. Whales added 72 million XRP, worth roughly $72 million, in the past 24 hours, extending a buying streak that began days earlier.
XRP dipped to the $1 psychological level again over the past 24 hours, after bulls had briefly pushed it back above that mark earlier in the week. The token is now down nearly 70% over the last year. Despite that, whales kept buying instead of selling into the drop.
Whales keep buying the dip
Whales acquired 72 million XRP, worth roughly $72 million, within the past day alone, according to analyst Ali Martinez. "Are they preparing for a bull rally", he asked.
Big accumulation by whale holders is often read as a signal that they may have information or conviction retail traders lack. Their buying can also draw in smaller investors who follow the same pattern.
Not a one-off move
The latest purchases follow a broader pattern. Just days earlier, Martinez disclosed that whales had scooped up more than 380 million XRP in one week. Separately, Santiment data shows the number of addresses holding at least 1 million XRP has risen by 32 over the last three months.
Source: CryptoPotato
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