Ripple Whales Accumulate During Price Correction as XRP Price Rebounds

Ripple Whales Accumulate During Price Correction as XRP Price Rebounds
фото показано с : captainaltcoin.com

2024-12-8 22:30

Market analysis from crypto trader Ali reveals substantial whale accumulation of XRP during a recent price correction. Large holders have purchased over 120 million tokens worth approximately $288 million as prices dropped from $2.90 to $2.22. 

The token has since rebounded, according to the latest CoinGecko price data. The data shared by Ali shows addresses holding between 1,000,000 and 10,000,000 XRP increased their positions substantially during the market downturn. 

These large-scale holders seized the opportunity to acquire tokens at lower prices, demonstrating confidence in XRP’s market position. The accumulation pattern aligns with historical whale behavior of building positions during price dips.

Source: Ali Charts

The concentrated buying pressure from whale wallets occurred precisely as XRP experienced downward price movement. Chart analysis indicates the accumulation took place primarily in the $2.22 price range, establishing a potential support level at that mark.

Price Recovery and Market Performance

XRP has demonstrated strong recovery momentum following the correction. CoinGecko data shows the token trading at $2.44, marking a 7.47% increase over the past day. The weekly performance stands even more robust with a 30.30% price appreciation over seven days.

Trading volume remains robust at $11.97 billion over the past 24 hours, indicating healthy market participation. The sustained trading activity suggests active price discovery as the market digests the recent whale accumulation events.

Read also: How High Can Shiba Inu Go By The End of 2024? SHIB Price Prediction

Technical Analysis and Market Structure

The price action displays a clear market structure, beginning with an upward trend that peaked at $2.90. The subsequent correction to $2.22 established a new support zone, validated by substantial whale buying activity at those levels. The current price of $2.44 represents a recovery of roughly half the correction.

Chart patterns shared by Ali demonstrate the formation of stabilization zones after the correction. The combination of whale accumulation and price recovery suggests the market has found equilibrium at current levels, with buyers maintaining support above the recent lows.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

We recommend eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.

The post Ripple Whales Accumulate During Price Correction as XRP Price Rebounds appeared first on CaptainAltcoin.

origin »

Bitcoin price in Telegram @btc_price_every_hour

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -2.75 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 467.1 (-100%)

price million xrp correction large 120 purchased

Источник: captainaltcoin.com

price million → Результатов: 126


Algorand’s ALGO token listing on Coinbase Pro, price jumps 11.85%

The Coinbase Pro announcement of Algorand’s ALGO listing pushed the price up from $0. 727 to $0. 814 within 40 minutes, an 11. 85 percent increase—and wicking the price as high as $0. 841. Algorand—a Boston-based blockchain company created to improve blockchain decentralization, scalability, and security—made the news last month after it completed a $60 million token sale.

2019-8-10 03:55


'Coinbase Effect' Makes Little-Known Cryptocurrency Go Bananas

Coinbase announced the potential addition of several new cryptocurrency assets this week. One of them, Matic Network (MATIC) jumped by over 60% in the 24 hours since the announcement. Little-Known Cryptocurrency Gains Over 60% With $100 Million Volume With a volume of nearly $100 million, the Matic price rose from just over 99 satoshis or […] The post 'Coinbase Effect' Makes Little-Known Cryptocurrency Go Bananas appeared first on CCN Markets

2019-8-7 22:54


MoneyGram Expecting xRapid’s Influence in Q4 as Ripple Investors Look for an XRP Price Catalyst

MoneyGram, the second-largest money transfer company in the world recently revealed that it has already started using XRP-powered cross-border payment platform, xRapid. This news came just a few weeks after MoneyGram announced it would be using the platform and received an initial investment of $30 million from Ripple. At the time, the price of its […]

2019-8-5 17:26


Фото:

Russian Customs Service Opens Investigation into Illegally Imported ASIC Miners

The Russian Federal Customs Service has initiated a probe into DTPK, an importer of Bitmain miners, for submitting falsified documents to customs officials and evading $1. 2 million in duties. The false documents had listed a much lower price for the miners and their power elements relative to their market price, as reported by CoinDesk, JulyRead MoreRead More.

2019-7-31 21:00


Lightning Network Bitcoin Capacity Approaches $10 Million While Nodes Hits Above 9k

The nodes on the second layer on Bitcoin network reaches 9,091 Cryptocurrency exchange Bitstamp opens its own LN node while some nodes claimed 2.2 BTC in “justice transactions” Network capacity takes a drop, in inverse correlation with the BTC price The second layer on the biggest cryptocurrency Bitcoin, Lightning Network (LN) continues to grow as […]

2019-7-21 15:36


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

It Won’t Be a Surprise If AAVE Price Keeps Dropping, Expert Warns, Citing Internal Issues

The recent slide in Aave has entered a deeper phase after months of steady losses, with AAVE price now sitting far below its December 2024 highs. The token has dropped roughly 75% from that peak, which places it among the weaker performers in a market where capital has stayed concentrated in majors like Bitcoin and […] The post It Won’t Be a Surprise If AAVE Price Keeps Dropping, Expert Warns, Citing Internal Issues appeared first on CaptainAltcoin.

Crypto Price Prediction For Today, April 8: Bittensor (TAO), XRP, Dogecoin (DOGE)

Bittensor, XRP, and Dogecoin enter today’s session from very different technical positions, and that contrast matters more than anything else right now. TAO price has spent the last month in a strong advance, XRP price has stayed trapped inside a broad range, and DOGE price has kept a mild bullish structure without breaking too far […] The post Crypto Price Prediction For Today, April 8: Bittensor (TAO), XRP, Dogecoin (DOGE) appeared first on CaptainAltcoin.