Crypto 350

07/17 18:10

Whale purchases of 2.2B XRP in two weeks helped pu

Whale purchases of 2.2B XRP in two weeks helped push the price well past the $3.00 mark.

Analysts say XRP must close above $3.30 monthly to confirm a breakout into price discovery.

Open interest climbs to $9.25, and a new XRP ETF is approved, boosting investor excitement.

Whale Activity Fuels XRP Price Movement

XRP reached $3.16 as of press time, recording an 8% rise over the last 24 hours and a 29% gain over the past week. Trading volume over the past 24 hours was reported at $8.84 billion. Analysts attribute the movement in part to significant buying activity from large holders.

According to renowned analyst Ali Martinez, whales have purchased 2.2 billion XRP in the last two weeks. In terms of USD, this stash is worth well above $6.6 billion at today’s prices.

During this period, XRP climbed steadily, passing the $3 mark. The sharp increase in buying pressure appears to coincide with growing investor interest in the asset.

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