Whale Activity Signals Market Confidence
XRP whales have been quietly accumulating significant amounts of the cryptocurrency over the past three days. According to on-chain data analyzed by Ali Martinez and verified by Finbold, these large-scale investors purchased approximately 120 million XRP tokens during this period. This buying activity suggests growing confidence that the token’s recent price decline may have reached its bottom.
“120 million XRP bought by whales in the last 72 hours!” Martinez noted, highlighting the fresh accumulation activity occurring just as XRP defends its multi-week support level. The timing of these purchases indicates that whales are positioning themselves during what they perceive as a favorable entry point.
Price Recovery and Market Context
At the time of writing, XRP was trading around $2.88, showing recovery from last week’s dip that briefly pushed the price below $2.80. This movement aligns with broader market inflows that saw XRP’s market capitalization expand by more than $6 billion overnight.
The combination of whale accumulation and renewed market depth demonstrates how capital continues flowing back into XRP despite ongoing market volatility. While the broader cryptocurrency market has experienced turbulence, particularly with Bitcoin’s decline from $116,000 to near $109,000, XRP whales appear to be positioning for potential upward movement.
Technical Positioning and Future Outlook
XRP’s ability to maintain support comes at a crucial moment. The token’s market cap currently stands above $172 billion, with trading volumes surging nearly 40% within 24 hours. This combination of substantial whale inflows and improved technical positioning could potentially help XRP reclaim the psychologically important $3 level in the coming days.
Market observers are now watching to see whether whale accumulation continues and whether XRP can maintain momentum against significant resistance levels at $2.94 and $3.18. Martinez’s analysis suggests that if these resistance levels are successfully breached, a more substantial rally could develop heading into October.
The whale activity represents a vote of confidence in XRP’s near-term prospects, though market participants remain cautious about whether this accumulation pattern will translate into sustained price appreciation. The coming days will likely provide clearer signals about whether this whale-driven support can overcome existing market resistance.
