The top 500 crypto whales on the Binance network started buying massive amounts of XRP (XRP) today. The purchases made XRP among the top 10 most popular coins.
Crypto whales set new target
As the lawsuit between Ripple and the SEC draws to a close, cryptocurrency whales are starting to show great interest in XRP. According to WhaleStats data, XRP topped the list of “top 10 tokens purchased” by the 500 largest Binance Smart Chain (BSC) whales in the last 24 hours.
Its competitors included FTM, FLOKI, FIL, ADA and AAVE. Hefty purchases during the day brought XRP to the top of the list.
On a narrower scale, the top 100 BSC whales are also showing great interest in XRP. According to WhaleStats, XRP is the ninth most purchased token among the top 100 BSC whales.
It is worth noting that XRP is not among the top ten best-selling tokens. This shows that this crypto relies on XRP for the long term. The data also reveals that these whales hold a total of 708,379 XRP worth $280,743 today.
Crypto whales hold over 60 million XRP
This metric was another indicator of the growing interest in XRP among major investors. Whale Alert reports that over 60 million XRP has moved in the last 24 hours. The anonymous whale pulled 31.8 million XRP worth $12.46 million from the Latin American exchange Bitso about 10 hours ago.
Another anonymous whale deposited 33 million XRP on EU-based cryptocurrency exchange Bitstamp minutes after the above transaction.
How about the XRP price?
XRP price has been trading in the $0.33-$0.415 range since November. The price failed to rise above the $0.43 resistance and is stuck in a tight range between the 50-day and 200-day moving average lines at $0.38 and $0.4 respectively. A break to the upside is likely to open another test of the $0.43 level.
In this case, the next resistance will move towards the $0.6 area. On the other hand, a breakdown of the 50-day moving average could result in a potential drop towards the key $0.3 support level in the coming weeks. cryptocoin.com We have included the current XRP analysis in this article.
However, XRP’s on-chain situation over the past month has not been great. Despite significant increases in active addresses in January, it failed to repeat performance. 30-day active address dropped to 254,000. This data means that there is a decrease in the number of wallets sending and receiving wallets on the Ripple network.
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