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XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally?
The post XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally? appeared on BitcoinEthereumNews.com. On-chain data shows that XRP and Cardano whales have been accumulating recently, which can be bullish for the prices of these altcoins. XRP & Cardano Whales Have Gone On A Buying Spree Recently As analyst Ali explained in a new post on X, XRP whales have seen their holdings go up over the last couple of weeks. The indicator of relevance here is the “Supply Distribution” from the on-chain analytics firm Santiment, which tells us about the total amount of assets the different market groups hold. Related Reading The whale cohort is of interest in the current discussion. These investors hold between 1 million and 10 million XRP in their balance. At the current exchange rate, these amounts are worth around $0.52 million and $5.2 million, respectively. Clearly, these are pretty significant holdings, which is why whales are considered influential in the market. Now, here is a chart that shows how the Supply Distribution of the entities belonging to this XRP group has looked like recently: The value of the metric seems to have been going up in recent weeks | Source: @ali_charts on X The graph shows that while the XRP price has been stuck in consolidation during the last couple of weeks, the whales have been viewing the opportunity as a buying one. These humongous investors have scooped up over 110 million cryptocurrency tokens (equivalent to almost $57 million) inside this window. This buying scale isn’t particularly massive, but the fact that these investors have been backing the coin through this poor period should be an optimistic sign. It would also appear that XRP isn’t the only one on the large holders’ radar recently. Market intelligence platform IntoTheBlock revealed in an X post that Cardano has also seen a significant buying push. The trend in the supply held by ADA…
The post XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally? appeared on BitcoinEthereumNews.com.
On-chain data shows that XRP and Cardano whales have been accumulating recently, which can be bullish for the prices of these altcoins. XRP & Cardano Whales Have Gone On A Buying Spree Recently As analyst Ali explained in a new post on X, XRP whales have seen their holdings go up over the last couple of weeks. The indicator of relevance here is the “Supply Distribution” from the on-chain analytics firm Santiment, which tells us about the total amount of assets the different market groups hold. Related Reading The whale cohort is of interest in the current discussion. These investors hold between 1 million and 10 million XRP in their balance. At the current exchange rate, these amounts are worth around $0.52 million and $5.2 million, respectively. Clearly, these are pretty significant holdings, which is why whales are considered influential in the market. Now, here is a chart that shows how the Supply Distribution of the entities belonging to this XRP group has looked like recently: The value of the metric seems to have been going up in recent weeks | Source: @ali_charts on X The graph shows that while the XRP price has been stuck in consolidation during the last couple of weeks, the whales have been viewing the opportunity as a buying one. These humongous investors have scooped up over 110 million cryptocurrency tokens (equivalent to almost $57 million) inside this window. This buying scale isn’t particularly massive, but the fact that these investors have been backing the coin through this poor period should be an optimistic sign. It would also appear that XRP isn’t the only one on the large holders’ radar recently. Market intelligence platform IntoTheBlock revealed in an X post that Cardano has also seen a significant buying push. The trend in the supply held by ADA…
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