Ayesha

09/01 11:31

Whales scoop $962 mln XRP in 2 weeks: Is $4 closer

Whales scoop $962 mln XRP in 2 weeks: Is $4 closer than you think?

Outflows swel, whales double down and traders pile in. What’s more with XRP?

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Whales purchased 340 million XRP worth $962 million, while $268 million exited exchanges. Funding Rates turned positive and Open Interest hit $8.02 billion, hinting at bullish momentum.

Ripple [XRP] gained 1.06% on the 31st of August, reversing its 6.32% decline from last week.

Analysis suggested that during the recent price drop, some investors accumulated XRP, likely preparing for a rally. AMBCrypto examined how this could unfold for the asset

Investors kept buying through the dip.

Santiment data showed that during the two-week downturn, whales purchased 340 million XRP worth about $962 million at $2.83.

This large-scale accumulation suggested whales viewed the market decline as an opportunity to buy in bulk.

Spot investors also joined in. Data from CoinGlass’ Spot Exchange Netflow showed that $268 million worth of XRP was withdrawn from exchanges over the past ten days.

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