XRP News Today: Crypto Whales Drive Bitcoin to $112,000, Ethereum Up 5%

This week, significant movements by crypto whales across Bitcoin, Ethereum, and various altcoins have sparked notable reactions in the market. Bitcoin recently approached $112,000 as whales actively repositioned their holdings. Large Bitcoin holders upgraded their wallets for security purposes, while Ethereum whales engaged in substantial buying and selling activities. Altcoins like XRP and SHIB experienced significant price swings as whales either accumulated or dumped tokens.

On-chain data revealed that Bitcoin wallets containing 1,000 or more BTC were in an accumulation phase while smaller investors were selling. As Bitcoin neared $112,000, sources indicated that whales were continuing to buy more. A dormant Satoshi-era whale moved 80,000 BTC ($8.6 billion) from old addresses to new SegWit addresses. This move was confirmed by Arkham and Ledger’s CTO as a security upgrade rather than a sale, following "legal notice" OP_RETURN messages sent to the old wallets. Another whale transferred 6,000 BTC ($647.8 million) to a new bc1q (SegWit) address, which was also seen as a security-driven move with no signs of selling. Additionally, a whale from 2019 moved 17,283 BTC ($1.88 billion) and 9,000 ETH ($977 million) within a 24-hour period. The source transaction was traced to addresses receiving coins from Xapo Bank in 2019, indicating that large holders are repositioning themselves after several years of inactivity.

Overall, Bitcoin whales have been net accumulators this week. Many large transactions were internal moves or security upgrades, and this behavior, combined with whales buying at current prices, has helped keep Bitcoin near its all-time highs. Ethereum whales have also been active, with both buying and selling occurring simultaneously. One whale deposited 120,918 ETH ($317 million) into exchanges, while another unstaked 155,837 ETH ($408 million) earlier and sent $317 million to exchanges. Sharplink Gaming, an ETH-centric firm, added 5,072 ETH to their holdings, bringing their total to 210,700 ETH ($584.5 million). Abraxas Capital withdrew 29,741 ETH ($81 million) from Binance/Kraken, and another whale (0x35fa) took 32,566 ETH ($89.3 million) off Kraken. These actions are seen as accumulation signals. However, one whale (0xd8d0) sold 30,003 stETH ($81.4 million) in early July after buying 132,536 ETH ($333 million) earlier and still holds 70,004 ETH ($194 million). Another whale bought 9,188 ETH ($25 million) at $2,721/ETH. Despite significant sell-offs, Ethereum was up 4-5% this week as whale buying offset the selling, indicating that ETH whales are rebalancing but staying long.

In the altcoin market, XRP whales have been actively accumulating, with XRP rising 4.8% to $2.44 as whale interest surged. On-chain data shows wallets holding over 1 million XRP hit a 7-week high, and Santiment reports steady accumulation by large holders. Whales are betting on XRP to go up, reducing volatility as supply tightens. Shiba Inu (SHIB) saw whale-led selling, with SHIB reportedly dropping 12% after major token holders moved trillions of SHIB to exchanges. The sell-off was reportedly due to "whales losing confidence" and halted SHIB’s rally. The meme coin PEPE had a different story: sources reported that whales increased their PEPE holdings by 1.75% (to 303 trillion tokens) while exchange supply fell 2.9%. PEPE reportedly went up 3% during this accumulation. Lower supply on exchanges and higher whale holdings are bullish demand signals.

Crypto whale activity has generally been supportive of the market. As big holders buy BTC and ETH, they withdraw from exchanges, creating upward pressure. Whale accumulation on Bitcoin explains why it almost hit $112. Ethereum’s strength is largely due to institutional buying and staking withdrawals. However, whale selling can cause sharp dips. The SHIB crash shows how concentrated holdings amplify moves: thousands of trillions of SHIB hitting exchanges caused a double-digit drop. Ethereum also saw volatility: big deposits (120k ETH) sent early sell signals. When whales dump to exchanges, markets tremble as other traders expect a drop. This week’s crypto whale action has both fueled and tested the rally.

In summary, Bitcoin whales transferred 80,000 BTC to SegWit addresses for security and continued buying near all-time highs. Ethereum whales were selling and buying aggressively. Big whales also triggered large transfers in XRP, SHIB, and PEPE that moved those markets. Most of these big moves weren’t panic sells but planned re-allocations for wallet upgrades, portfolio rebalances. This means whales are positioning for the long-term rather than cashing out. For traders and investors, it is crucial to always do their own research.