XRP price trades near $2.88 at press time, up about 2% in the past day. The last four weeks were rough; XRP corrected by over 12.5% during that time. Still, the three-month trend is higher (about +26%).
Now, on-chain data suggests that those weak weeks may be coming to an end. Big buyers moved first. But selling by other holders keeps a lid on a clean breakout.
Whales Step In With $630 Million Buying
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The clearest bullish move came from whales. On September 3, when XRP traded above $2.85, two large cohorts of holders started to add coins. The first group held at least 1 billion XRP, and the second held between 10 million and 100 million.
Since September 3, these groups grew their balances from 23.86 billion to 23.93 billion, and from 7.61 billion to 7.76 billion. At current prices, this added up to roughly $630 million in new holdings.
This buying was a clear push that helped XRP move above the $2.85 area, the level where most of the buying happened.
That level had been stopping the XRP price from moving higher, and whale demand was the likely main reason the price rose again. Think of whales as big hands pulling the price up by adding coins at those levels.
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Profit-Taking Still Blocks Clear Breakout
While whales bought, many other holders sold to lock in gai
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Author: Ananda Banerjee
