A Whale Drops 396K & 502K XRP Limit Orders Back-to-Back. What Does He Know?
Main Idea
An anonymous whale executed two large limit buy orders for XRP, totaling over $1.7 million, sparking speculation about potential insider knowledge or confidence in XRP's future price movement.
Key Points
1. A whale placed consecutive limit buy orders of 396,000 XRP and 502,000 XRP, injecting over $1.7 million into the asset.
2. XRP is currently trading at approximately $2.94, with a weekly range between $2.83 and $3.11, facing resistance at $3.05–$3.10.
3. The whale's actions suggest confidence in the $2.90–$3.00 price zone as strong support, possibly anticipating a major market move.
4. Key developments fueling optimism include the upcoming SEC status update on Ripple’s legal battle, Ripple’s ecosystem growth, and speculation about an XRP spot ETF approval.
5. Risks remain, as failure to hold above $2.90 could lead to a price drop, with technical indicators showing weakening momentum.
Description
A massive XRP accumulation move is raising eyebrows across the crypto market. As shared by crypto analyst Xaif, an anonymous whale recently executed two consecutive limit buy orders, 396,000 XRP followed swiftly by 502,000 XRP, injecting over $1.7 million into the asset. This strategic move came just days after the same trader reportedly secured $275,000 in profits. The timing and size of the trade have sparked one pressing question: What does he know? XRP Price Action: Hovering at a Critical Le...
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