A whale buys almost 1 million XRP: does it know something we don't know?
An anonymous crypto whale suddenly bought almost a million XRP. Two massive orders, worth $1.7 million, put the market on alert. What does this investor know that the rest of the market does not yet see?
Whale fully committed to the XRP course
According to analyst Xaif, the whale placed two large buy orders in quick succession: first 396,000 XRP, followed by another 502,000. Both transactions were made at an approximate price of $2.93. What makes this particularly notable is that, reportedly, the same investor made a profit of $275,000 shortly before.
And yet, it is now coming back in, this time with even more money. Is it pure coincidence or is something happening that the rest of the market is still unaware of?
Why is this whale entering now?
The way the orders were placed suggests that it was not an impulsive move. This whale seems to be deliberately buying at a critical moment, as if anticipating a fundamental trigger and positioning itself before the rest of the market follows.
We have observed a similar pattern in previous bull markets, where large investors acted discreetly before the excitement began. Analyst Xaif calls it 'getting ahead' of a possible breakout.
An important date is approaching
There are many events surrounding XRP. For example, a significant update on the legal dispute between Ripple and the U.S. regulator, the SEC, is scheduled for August 15. A positive turn of events could pave the way for large investors.
Additionally, Ripple is busy with new projects like RLUSD, tokenized Treasury bonds, and the launch of its own EVM sidechain. There are also rumors of a possible XRP spot ETF. When you add the increased institutional inflow and the heightened activity of whale wallets, the source of this confidence is understandable.
XRP price: crucial support at $2.90
The price of XRP is currently trading around $2.94 at the time of writing this article. This places the coin just above a key support level. Over the past week, the price has fluctuated between $2.83 and $3.11. Resistance around $3.10 remains, but the $2.90 area also remains intact for the moment.
The technical indicators are still not giving a clear signal. The RSI is neutral and the moving averages are neither particularly positive nor negative. A breakout above $3.10 would pave the way for new gains, but if XRP falls below $2.90, the situation will become interesting.
$XRP
XRP
2.9832
+0.97%