XRP News Today: XRP Whales Buy 60 Million in 24 Hours Amid Price Dip

A significant development has unfolded in the XRP market, as major holders—commonly referred to as "whales"—accumulated approximately 60 million XRP within a single 24-hour period [1]. This massive buying spree, highlighted by crypto analyst Ali Martinez, underscores a growing confidence in XRP’s value proposition amid a volatile market environment. The accumulation was led by wallets holding between 10 million and 100 million XRP tokens, who capitalized on a recent price dip following a correction from mid-July highs near $3.66. As of now, XRP is stabilizing around $3.09 [1].

This aggressive buying activity occurred against a backdrop of broader market weakness. XRP shed about 14% from its local high, while open interest on futures contracts dropped by $2.4 billion, triggering liquidations across derivatives markets. However, rather than leading to panic selling, the dip prompted whales to accumulate, with on-chain data showing a sharp decline in whale-to-exchange transfers—down over 90% since early July [1]. This trend indicates a shift toward long-term holding strategies and reduced sell pressure.

From a technical perspective, XRP continues to hold above the key $3.00 level and remains supported by its 20-day exponential moving average (EMA). While the MACD still reflects bearish momentum, the absence of short liquidations for one hour suggests strong support from buyers [3]. Analysts have noted that resistance lies in the $3.30 to $3.35 range, and a breakout above this level could lead to a retest of $3.66. If bullish momentum continues, XRP could potentially push toward $4 and eventually $5.90 [1].

The accumulation by whales is not occurring in isolation. Broader macroeconomic factors are also influencing investor sentiment. A recent U.S.-EU trade agreement has improved risk-on sentiment, benefiting XRP and other crypto assets. Additionally, two major U.S. crypto bills—the Clarity Act and the Genius Act—are gaining momentum in Congress, offering potential clarity for digital assets like XRP [1]. Institutional investors are also stepping in, placing over $25 million in long positions ahead of a significant White House policy announcement [1].

The recent legal developments have further bolstered XRP’s standing. A favorable court ruling in August 2024 suggested that XRP might not be classified as a security in most cases, particularly for retail investors [4]. This ruling has contributed to renewed interest in the token and enhanced its legitimacy in the eyes of both retail and institutional investors. Looking ahead, the anticipated launch of nano perpetual-style futures on Coinbase is expected to improve liquidity and accessibility for XRP traders [4].

While the short-term outlook remains subject to market volatility and shifting capital flows, the recent whale activity and absence of short liquidations indicate strong underlying support for XRP. Analysts continue to monitor the situation closely, with some forecasting a potential breakout to $4 if bullish momentum persists [6]. As the crypto landscape evolves, the coming weeks may prove crucial in determining whether XRP can sustain its upward trajectory.

Source:

[1] [60 Million XRP In 24 Hours: Here’s What Happened](https://timestabloid.com/60-million-xrp-in-24-hours-heres-what-happened/)

[2] [XRP to Flip ETH? ETF News Sparks 2017 Flashbacks](https://cryptopotato.com/xrp-to-flip-eth-etf-news-sparks-2017-flashbacks/)

[3] [0 XRP Short Liquidations in One Hour, What's Happening?](https://u.today/0-xrp-short-liquidations-in-one-hour-whats-happening)

[6] [After today's 3% surge, is Ripple set to smash $4 as whales ...](https://m.economictimes.com/news/international/us/xrp-price-prediction-after-todays-3-surge-is-ripple-set-to-smash-4-as-whales-buy-big-and-experts-predict-60-rally/articleshow/122954849.cms)