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XRP Whales Accumulate 20M Tokens, Sparking Price Speculation

Coin WorldWednesday, Feb 19, 2025 2:58 pm ET

1min read

XRP whales have continued their accumulation spree, with a significant purchase of 20 million tokens, sparking speculation about potential price movements. Data from Whale Alert shows that this transaction, valued at approximately $50.65 million, took place on the Gemini exchange.

The cryptocurrency has recently experienced a slight decline, currently hovering around the $2.58 mark. This large-scale acquisition has led to market discussions, with investors debating the possible reasons behind the move. One theory suggests that the whale may be attempting to tighten the available supply of XRP on exchanges, potentially driving demand and influencing price action. Another possibility is that institutional investors might be positioning themselves for a long-term price increase.

Historical patterns indicate that large-scale acquisitions often precede significant price movements. However, market participants should remain cautious, as increased whale activity can also contribute to short-term price volatility due to shifting liquidity.

Crypto analyst Ali Martinez highlighted a broader trend in XRP accumulation. According to his analysis, whales have purchased 150 million XRP in the past 48 hours, bringing their total holdings to over 6.9 billion XRP. This surge in whale activity coincides with fluctuating XRP prices, suggesting a potential bullish outlook for the cryptocurrency in the coming weeks.

Analyst EGRAG CRYPTO provided insights into XRP’s long-term market potential. Using Fibonacci retracement levels, he projected that XRP’s market capitalization could reach $1 trillion in this cycle. He pointed out that XRP’s previous bull run saw a 15,000% increase in market cap, and a move to the Fibonacci 1.618 level could represent just 4% of that movement. By applying conservative estimates, he suggested a possible 600% increase in XRP’s price in the future.

As of press time, XRP trades at $2.58, with a 24-hour trading volume of approximately $4.45 billion. The cryptocurrency has recorded a 0.34% price increase in the past day and an 8.33% gain over the last week. With a circulating supply of 58 billion XRP, its market capitalization stands at roughly $149.66 billion.

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