XRP whales jump to buy the dip, scoop up nearly $170 million in tokens in a week

FXstreet
FXstreet

29 Jun 2023 3:25 PM

Ripple network’s whales capitalized on the recent opportunity to “buy the dip” and scooped up as many as 360 million XRP tokens over one week. Through...

  • XRP network's large wallet investors accumulated 360 million tokens between June 22 and 28.
  • XRP price declined 6% during this period, presenting a buy-the-dip opportunity.
  • Whale accumulation of XRP tokens is considered a bullish sign for the asset's price recovery.
  • Whales bought $170 million worth of XRP tokens, removing them from circulation and easing selling pressure.
  • On-chain indicators such as active addresses and trade volume suggest a likely recovery in XRP's price.

The article presents a bullish sentiment towards XRP, highlighting the accumulation of tokens by large wallet investors and positive on-chain indicators that suggest a potential price recovery.

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You May Ask

What did large wallet investors do during the dip in XRP's price?How much did whales spend on accumulating XRP tokens?How does whale accumulation affect the price of XRP?What on-chain indicators support the thesis of XRP's price recovery?Has XRP's price shown a correlation with on-chain activity in the past?

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