Around three weeks ago, XRP reached a peak of $0.6413 before it dropped to a yearly low of $0.4336 within days. This reflected a 32% decline in less than three weeks. However, this pullback has given the whales a notable buying chance.
Last week, XRP climbed back to around $0.5, showing a 6% increase. But, more than 452 million XRP, worth over $232 million, was transferred to exchanges like Bitvavo, Bithumb, and Bitstamp from unknown wallets. This has raised concerns about a huge sell-off, even though XRP has recovered from a low of $0.43.
XRP Whales Buy During the Drop
When XRP fell from $0.6413 to $0.4336 in about three weeks,the whales saw it as a chance to buy. Analyst Ali Martinez said these whales, mainly the ones holding between 10 to 100 million XRP, bought over 31 million XRP in just one week. That sums up to the worth of $16 million. However, some experts say that this buying will lead to a big rise in price.
Whales Are More Active
Whales moved 70 million XRP amidst the SEC vs SEC lawsuit. Some bought XRP, and some sold. This made the price uncertain. Nevertheless, some experts are of the opinion that XRP could reach $1.
Read more: XRP Whale Transfers 129M XRP Amid Ripple Vs SEC Lawsuit Speculations
Studies show that big XRP holders tend to buy more when the price drops. This study is supported further by data from Santiment. It shows more wallets holding at least one million XRP. By April 22, there were 2,013 of these wallets, up 3.1% in six weeks and close to the highest ever of 2,014 in June 2023. This rise in buying is a result of XRP being the only digital asset with clear rules in the U.S.
XRPL AMMs TVL Reaches 7 Million XRP
XRPL AMMs have locked up over 7 million XRP in just one month. 3.7 million is currently locked. Recently, 1.5 million XRP was added in just a week, mainly to the SOLO/XRP pool. It offers the best return at 2.54% APY. In fact, Ripple also plans to launch a lending system and its own stablecoin on XRPL soon.
Read more: Ripple Price Prediction: XRP’s Path to a $33 Billion Market Surge by 2025
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