XRP Whales Buy 600M Tokens Despite Market Downturn

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The Essentials in Brief

In a remarkable development, XRP whales have massively invested in XRP tokens over the past two weeks, accumulating a total of 600 million tokens. Despite a general trend of falling prices and a depreciation of their holdings, these large investors continue their accumulation. This phenomenon raises questions about the future price development of XRP and the strategies that small investors should pursue in this volatile market.

Whales Against the Current

Despite a not particularly strong performance profile of XRP, which recently fluctuated around the 0.6 dollar mark, some large investors have seen the lower prices as an opportunity to increase their holdings. An analysis of the XRP supply distribution on Santiment shows that this accumulation began as early as January and continued even during significant price declines. Just in the past week, these addresses have added over 31 million XRP, raising the stake to 11.27% with 249 addresses.

Profitability of Whales Questioned

Interestingly, the analysis of the market value to realized value (MVRV) suggests that these whales are currently not holding their holdings at a profit. With a 30-day MVRV of about -3.7% and a 180-day MVRV of around -6.7%, many of the accumulated XRP are currently valued below their acquisition cost. This suggests that investors are speculating on a future price increase, as historically an MVRV rate below zero often signals an impending upward correction.

XRP Price Movements

The price movements of XRP show a continuing pattern of ups and downs. After a decline of over 2% on April 23rd and a slight increase of less than 1% in the following trading session, the price development of XRP remains volatile. The long-term moving average has proven to be resistance, suggesting that the market continues to face challenges in terms of a sustainable price recovery.

Our Assessment

The recent accumulation activities of the XRP whales, despite the current undervaluation of their holdings, could be an indication of their confidence in the long-term value increase of XRP. For small investors, this means that it is important to closely monitor market conditions and the activities of large investors before making their own investment decisions. While short-term volatility may be daunting, the long-term outlook for XRP could be positive, provided the current accumulation trends continue and lead to a price increase.

Sources

– Santiment
– TradingView

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