XRP Whales Go on Buying Spree... "Sweeping Up Volumes Sold in Fear"

▲ XRP

While individual investors were selling in fear, aggressive buying by XRP whales was observed.

According to a NewsBTC report on April 9, XRP whales are rapidly accumulating large volumes, taking advantage of the recent decline in asset prices. Data from on-chain data analysis platform CryptoQuant shows that the 30-day moving average (30DMA), which indicates whale buying trends, has turned positive for the first time in three months. This signifies that large investors have shifted from the distribution phase back to the accumulation phase.

XRP whales are buying an average of over 11 million XRP daily, which is the highest level of accumulation activity in the past 10 months. This movement coincides with XRP rebounding near the key technical support level of $1.28 and defending the $1.33 mark. Notably, a surge in outflows from exchanges to external wallets is also reducing immediate selling pressure in the market. It is interpreted that whales are moving circulating supply to personal wallets, entering a long-term holding stance.

Behind this accumulation frenzy is a large-scale XRP Ledger conference being held in Japan. At this event, with significant participation from Ripple executives, key strategies such as institutional adoption and the expansion of the decentralized finance (DeFi) ecosystem are expected to be announced. Japan plays a strategic role in Ripple's global expansion, based on its strong partnership with SBI Holdings. Market experts believe that whales are anticipating institutional acceptance and ecosystem growth that will stem from this event.

Currently, the XRP market shows a stark contrast between individual panic selling and strategic accumulation by whales. Even amidst ongoing volatility in major assets like Bitcoin (BTC), large investors are making confident bets ahead of specific events. The virtual asset market is keenly watching whether this large-scale accumulation could be a precursor to a strong price breakout in the future.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*