Chair

Million

Gary

Optimism

Armando Pantoja, a prominent cryptocurrency expert, recently <a href="https://x.com/_TallGuyTycoon/status/1858618729409421623?t=KwCwDVgkkYwlVVCmyMnvTg&amp;s=19" rel="noopener noreferrer nofollow">revealed</a> that XRP whales have purchased 453.3 million tokens, valued at approximately $526 million, within a week.
This marks the largest accumulation of XRP by major investors in nearly three years and has sparked speculation within the cryptocurrency community about a potential major price movement.
While Pantoja initially claimed that this purchase represented 18% of XRP’s supply, clarification in the <a href="https://x.com/RossMcFirdeen/status/1858622422150193555?t=nHdnK9XQCV6EVJhiNKUHDA&amp;s=19" rel="noopener noreferrer nofollow">comments</a> suggested that he was referring to the supply available on cryptocurrency exchanges rather than the total supply of 100 billion tokens or the circulating supply of 56.9 billion tokens. Regardless, the scale of this acquisition shows the confidence whales have in XRP.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> whales quietly bought 453.3M tokens, $526M in a week—18% of the supply.
 The most accumulation by whales in almost 3 years.
 They know what most refuse to accept…something big is coming <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> <a href="https://t.co/bLrGMrd6fc" rel="noopener noreferrer nofollow">pic.twitter.com/bLrGMrd6fc</a>
 — Armando Pantoja (@_TallGuyTycoon) <a href="https://twitter.com/_TallGuyTycoon/status/1858618729409421623?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 18, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="strong-reasons-for-optimism-surrounding-xrp-strong">Reasons for Optimism Surrounding XRP</h2>
XRP recently broke above the $1 threshold for the first time since 2021, an achievement that has reinvigorated excitement among investors and the broader community. This milestone coincides with growing optimism surrounding key developments in the cryptocurrency market.
The prospect of an XRP ETF approval in the U.S. has generated bullish sentiment across the crypto landscape, as multiple major players in the finance world have <a href="https://timestabloid.com/grayscale-joins-the-race-for-xrp-etf/" rel="noopener noreferrer nofollow">filed for XRP ETFs</a>.
Additionally, speculation regarding the potential departure of Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC) has been welcomed by XRP supporters, given the SEC’s legal battle with Ripple. His recent hint at a resignation <a href="https://timestabloid.com/xrp-price-spikes-20-after-sec-chair-gensler-hints-at-resignation/" rel="noopener noreferrer nofollow">caused XRP to climb 20%</a> and the digital asset could do significantly more once he leaves.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We are on twitter, follow us to connect with us :- <a href="https://twitter.com/TimesTabloid1?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@TimesTabloid1</a>
 — TimesTabloid (@TimesTabloid1) <a href="https://twitter.com/TimesTabloid1/status/1680250907504656385?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 15, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="strong-whale-activity-as-a-bullish-signal-strong">Whale Activity as a Bullish Signal</h2>
The accumulation of XRP by whales often serves as a bullish indicator. Their significant purchases reduce the available supply of the asset on exchanges, potentially driving up demand and price. According to Pantoja, “They know what most refuse to accept…something big is coming.”
This buying spree indicates confidence among these investors in XRP’s potential for further gains. Historically, whale activity has been linked to positive market trends, with their movements serving as precursors to major price shifts.
The recent whale activity and price milestone are occurring against a major regulatory shift backdrop and competition within the cryptocurrency market. However, XRP’s utility as a <a href="https://timestabloid.com/forbes-details-xrp-cross-border-payment-capability-and-swift-replacement/" rel="noopener noreferrer nofollow">bridge currency for cross-border payments</a> and its loyal community of supporters provide a solid foundation for its continued growth.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on <a href="https://twitter.com/TimesTabloid1" rel="noopener noreferrer nofollow">Twitter</a>, <a href="https://www.facebook.com/timestabloid/" rel="noopener noreferrer nofollow" class="broken_link">Facebook</a>, <a href="https://t.me/markettabloid" rel="noopener noreferrer nofollow">Telegram</a>, and <a href="https://news.google.com/publications/CAAqLAgKIiZDQklTRmdnTWFoSUtFSFJwYldWemRHRmliRzlwWkM1amIyMG9BQVAB?hl=en-US&amp;gl=US&amp;ceid=US%3Aen" rel="noopener noreferrer nofollow">Google News</a>
The post <a href="https://timestabloid.com/526-million-xrp-in-a-week-heres-what-whales-are-doing-quietly/" rel="noopener noreferrer nofollow">$526 Million XRP In a Week. Here’s What Whales Are Doing Quietly</a> appeared first on <a href="https://timestabloid.com" rel="noopener noreferrer nofollow">Times Tabloid</a>.

$526 Million XRP In a Week. Here’s What Whales Are Doing Quietly

Table of Contents

Times Tabloid

Other articles published on Nov 19, 2024

Fun and Creative AI Tools: AI Girlfriend, Anime Generators, and Character Creators

Raoul Pal Compares Solana and Sui in the Cryptocurrency Market

MicroStrategy MSTR shot up by 450% YTD as Wall Street investors grab up shares

PlugMate Revolutionizes EV Charging Infrastructure with Blockchain-Powered Crowdfunding

Binance launches BFUSD stablecoin offering 19.55% APY

Dan Gallagher in the Lead as Trump’s Pick for SEC Chair: Report

Join our free newsletter for daily crypto updates!