XRP Recovers 12.11% After Sell-Off, Trading Volume Stabilizes Strategy Buys 3,459 BTC Worth $285M, Holds 2.5% of Supply Shiba Inu Whales Accumulate 160 Billion Tokens, Price Holds Above Support

XRP, the cryptocurrency associated with Ripple, has recently shown signs of recovery after facing a significant sell-off that threatened to push its price below the $1 mark. The intense selling pressure had raised concerns about the asset's value, with XRP plummeting to a monthly low of $1.64. However, the cryptocurrency market has since stabilized, and XRP has regained some of its lost ground. At the time of reporting, XRP was trading at $2.18, reflecting a 2.31% increase over the past 24 hours and a 12.11% rise over the past week. The renewed interest in XRP is also evident in its trading volume, which has stabilized after experiencing a fall during the sell-off. Additionally, the growing hype around XRP ETFs and the potential involvement of major firms could further boost the asset's growth prospects.

Strategy, a business intelligence firm, has announced a significant purchase of Bitcoin, acquiring an additional 3,459 BTC worth $285 million. The purchase was made at an average price of around $82,618 per coin, bringing Strategy's total holdings to 531,644 BTC. This acquisition represents 2.5% of the total Bitcoin supply, which is capped at 21 million coins. The Bitcoin community had been anticipating this purchase following a teaser by Strategy's co-founder Michael Saylor. Despite the size of the purchase, it had little impact on Bitcoin's price, which is currently sitting slightly above $85,000. Strategy's average purchase price for Bitcoin is nearing $68,000, indicating a long-term investment strategy.

Shiba Inu (SHIB), a popular meme coin, has seen a surge in whale activity, with 160 billion tokens flowing into the asset over the past two days. According to netflow data, large holders have been accumulating SHIB after a period of stagnation, with netflows rising sharply to over 80 billion SHIB per day. This short-term shift suggests a possible turning point for the asset, although netflows are still in negative territory over longer time periods. At the moment, SHIB is trading at about $0.000012, showing resilience by holding above key support levels. However, the overall lack of innovation in the SHIB ecosystem leaves its long-term recovery uncertain. The recent uptick in interest from both whales and smaller traders raises questions about potential price movements, but the asset's future remains uncertain.