Whales Accumulate XRP Coin as September Approaches

Increase in XRP Purchases

Analyst Ali Martinez recently focused on XRP Coin in his market assessment. He noted that major crypto investors purchased millions of dollars in XRP within the past ten days, revealing that Ripple whales invested over 470 million XRP during this period. This investment equates to approximately 300 million USD.

“Ripple whales have accumulated over 470 million XRP in the last 10 days.”

Martinez also mentioned that Bitcoin could form a cup and handle pattern on its weekly chart. This pattern typically indicates a brief consolidation phase before the asset breaks through a significant resistance level after a strong rally.

“If Bitcoin truly forms a cup and handle, long-term targets could range between 194,000 and 352,000 dollars.”

Year-End Expectations

Based on past price data, the analyst suggested that Bitcoin could finish the year on an upward trend. He recalled historical data indicating that if Bitcoin closes September positively, larger gains are often seen in the last three months of the year.

“Historically, when Bitcoin closes September in the green, larger gains are observed in the last three months of the year.”

As of the time of writing, XRP is trading at 0.61 dollars, reflecting a 3.4% decrease in the last 24 hours, while Bitcoin is priced at 60,754 dollars. A significant recent event was the filing made by Bitwise for an XRP Coin ETF, which has been confirmed by the company’s spokesperson.

In conclusion, the increasing appetite from XRP Coin whales as September 7 approaches is extremely positive for XRP prices. Investors with substantial holdings typically accumulate rapidly during periods when they expect significant rallies.