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XRP Whale Activity Surges: 40 Million Tokens Bought Amid Price Stability

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XRP Whale Activity Surges: 40 Million Tokens Bought Amid Price Stability

XRP whales have resumed accumulating tokens, acquiring approximately 40 million XRP over the past two days as the market hints at recovery. Whale activity has picked up again after a period of uncertainty, boosting confidence among XRP supporters.

FUD Fades as Whales Return to the Market

Ali Martinez, a prominent crypto analyst, noted that large holders recently purchased 40 million XRP in just two days, generating optimism within the XRP community. 

Crypto intelligence platform Santiment confirmed this accumulation, highlighting a sharp increase between October 10 and 12. However, this surge followed the dissipation of fear, uncertainty, and doubt (FUD) linked to the U.S. Securities and Exchange Commission’s (SEC) notice of appeal.

Related article: XRP Price Nears Resistance: Will Bulls Push Past Bollinger Band Median?

On October 2, the SEC filed a notice of appeal, challenging the Ripple ruling. The move created uncertainty in the market while leading to a brief drop in XRP’s price. In response, whale activities slowed as holders sold off large quantities of XRP. By October 8, wallets holding between 1 million and 10 million XRP saw their collective holdings fall from 3.92 billion to 3.8 billion.

Whales Resume Buying After Brief Pause

Whales resumed accumulating XRP after this short selling period. As of October 12, the amount of XRP held by major wallets climbed back to 3.85 billion. On-chain data and exchange activity further confirmed this shift. One user alerted the XRP community about a large buy order for 26.38 million XRP at $0.5415 on Bitrue’s XRP/USDT pair. 

Related article: How XRP Could Reach $500: Expert Insights on Financial Institutions and Growth

Meanwhile, Whale Alert reported that a whale withdrew 30 million XRP (worth $16 million) from Bybit. Despite the renewed buying, XRP has remained stable between $0.54 and $0.52 in the past week, trading at $0.5385 at press time. 

Analysts believe Bitcoin’s rising momentum could trigger an XRP price surge to $0.67, especially if Bitcoin reaches new highs.

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