XRP is showing signs of a major comeback after a recent crypto crash. Strong buying by significant investors, often referred to as “whales,” has enabled the digital currency to recover some of its lost value.
As the market’s mood changes, it seems that the negative outlook that has been plaguing the crypto world is ending. XRP is now going into a more positive phase. People known as “XRP whales” made significant purchases earlier today.
XRP Deal Worth $13.62 Million
According to Whale Alert, the cryptocurrency exchange Binance witnessed an impressive transfer of over 26 million XRP coins to an unnamed wallet. This deal is worth approximately $13.62 million at the current price of Ripple. It shows that whales are buying more and more.
Most of the time, whales buy cryptocurrencies on large trading sites like Binance and then store them in private wallets for a long time. The recent move of 26 million Ripple coins to a private wallet is a clear sign of this kind of plan, showing that these big market players are optimistic about the future.
Whale accumulation is typically considered positive for any coin. Because of this, the current buying spree should give XRP’s price a lot of support. After the recent crash, the coin was already going up, and this trend of accumulation is likely to make its situation even stronger.
At the time of writing, the price of XRP was $0.5069, indicating a significant increase of 14.13% within a single day. Even though the market fell on Sunday, Ripple has still gained 16.57% in the last 30 days, demonstrating how strong it is even when the market as a whole is in trouble.
The price increase today shows that XRP hasn’t lost its speed and is ready to keep going up. The cryptocurrency has already done better than well-known coins like Ethereum (ETH) in recent market activity. It looks like it will hit even higher levels in the coming weeks, with support from whales.
