The course of XRP has come under considerable pressure in recent weeks, but instead of panic among investors it seems to have created a chance of buying. New on-chain data shows that both small and large investors further expand their positions in XRP. This accumulation is seen as a positive signal and could indicate that the soil is near.
Accumulation of XRP coins indicates trust
The tweet from ‘Dom’ shows that the number of wallets with at least 100 XRP coins has shown a strong increase since the end of 2024. In December there were around 1.6 million wallets with at least 100 XRP, which at that time amounted to a value of around $ 240 per wallet. Within just a month, this number has risen to 1.74 million wallets, which amounts to a growth of almost 9%.
Whales continue to buy XRP
Wealthy investors, the so -called ‘Whales’, also use the price drop to purchase large quantities of XRP. In recent weeks, 53 new wallets have been registered with a balance of more than a million XRP, good for more than $ 2.4 million per wallet.
This shows that wealthy investors also have faith in the Altcoin, even now that the course is falling. The XRP price has fallen by 19.1% in the past seven days, and currently the currency is almost 30% below its all-time high of $ 3.40, which was reached in January 2018.
Important price levels for XRP
Although the accumulation of coins increases the chance of a price repair, XRP continues to have to do with some crucial resistance levels. An important barrier is around the $ 2.50 border. On February 7, the race made an attempt to break this level, but without success. The $ 2.40 limit is currently acting as a strong level of support, which can offer stability in the coming days.
If the accumulation persists and the resistance levels are still broken, XRP could show a powerful recovery in the coming weeks.
Claim € 10 free today and do not pay trading costs over the first € 10,000!
Grab this unique opportunity with Newsbit and Bitvavo by creating an account now via the button below. Only deposit € 10 and receive € 10 free of charge. Moreover, you can act without costs for 7 days over your first € 10,000 in transactions. Start today and take advantage of the growing popularity of Crypto!
Make your account and claim € 10 for free.
Don’t miss this opportunity to take advantage of the growing popularity of Crypto!
Source: https://newsbit.nl/rijke-crypto-investeerders-blijven-massaal-ripple-xrp-kopen/
