According to analyst Altcoin Buzz XRPMany altcoins have witnessed significant whale accumulation recently, including Tellor (TRB), Render, Singular, and Fetch.ai (FET). According to the analyst, these developments point to potential upward trends in the future.
Ripple’s XRP has recently experienced a surge in the accumulation of whale addresses. Addresses holding 1 million to 10 million XRP collectively purchased more than 90 million tokens, worth approximately $48 million. This accumulation by whales has historically influenced price movements and has often occurred before market recoveries and rallies.
Along with these, the participation of retail investors is also increasing. The number of addresses performing transactions on the network increased by 28.8% last week. This growing optimism among investors could push prices higher, with XRP currently trading at 54 cents and showing signs of potential upside.
Whale Movements Point to Uptrends for XRP and TRB
Decentralized Oracle Network, like Tellor (TRB), nearly doubled its market cap in early May, reaching $247 million on May 7. Analysis shows a significant increase in whale activity surrounding TRB, with an increase in whale transactions and active addresses observed on May 6.
With this growth potential, crypto analysts remain optimistic about TRB’s price trajectory, as Koinfinans.com reported. While technical formations indicate that the rise for TRB will continue, they predict that higher levels may be seen in price movements. The prediction of an increase of over 35% to over $261 shows TRB’s potential.
Artificial Intelligence Innovations Boost Altcoin Gains
Recently Render, Singular, Fetch.ai Other altcoins such as (FET) and DeepBrain Chain (DBC) experienced notable gains. Render has gained more than 50% in value over the past seven days, while other AI-focused coins Singular, Fetch.ai (FET), and DeepBrain Chain (DBC) are up between 17% and 23%. These coins have outperformed the overall crypto market.
The correlation between developments in the AI sector and crypto market dynamics shows that investor enthusiasm is increasing as chipmakers like Nvidia are set to report first-quarter earnings on May 22.
