Ripple whales accumulated 72M XRP in 24 hours as price dipped below $1, while analyst warns of potential crash if support at $1.06 breaks.
Macro & Markets ·
Large holders of XRP acquired 72 million tokens within a single day as the asset fell below $1, according to CryptoPotato. Over the preceding seven days, whale activity extended to more than 380 million XRP accumulated. The surge in buying coincided with rising counts of addresses controlling at least 1 million coins, suggesting institutional or high-net-worth accumulation during the price decline.
Analyst Ali Martinez flagged a critical technical level at $1.06, warning that a breach below this threshold could trigger substantial downward movement. Separately, selling intensity on Binance has climbed to its highest point since May, reflecting heightened bearish positioning among retail traders on the exchange. The divergence between whale purchases and exchange selling pressure creates an asymmetry in market participant behavior.
The underlying driver of whale conviction—whether anticipation of recovery, fundamental confidence, or opportunistic positioning—remains unspecified. Similarly, the timeframe and conditions under which the $1.06 support test might occur are not detailed. Market participants lack clarity on whether accumulation reflects coordinated strategy or independent conviction among large holders.