- XRP has declined by 2.82% over the past 24 hours.
- Ripples whales buy 110 million XRP tokens worth $242 million.
Over the past 24 hours, the crypto market has experienced strong downward pressure. With most altcoins declining following BTC’s drop to $95k, XRP was not spared. Over this period, Ripple’s [XRP] has experienced a sharp decline, hitting a low of $2.15.
This drop has created a buying opportunity among investors, especially whales. As such, whales have turned to buying the dip.
Ripple whales buy the dip
In his analysis, Ali Martinez observed that Ripple’s whales have turned to accumulating XRP following the market dip.
Source: X
According to him, Ripple Whales have bought another 110 million XRP tokens worth $242 million. When large holders buy, it shows their confidence in the XRP market’s prospects.
We can see the surge in buying activity over the past two days, evidenced by the Taker buy-sell ratio. This ratio has reversed from a sustained decline of 0.91 to 0.93, suggesting that buyers have entered the market following a rise in selling pressure over the previous days.
