The Business & Technology Network
Helping Business Interpret and Use Technology
S M T W T F S
 
 
1
 
2
 
3
 
4
 
5
 
6
 
7
 
8
 
9
 
 
 
 
13
 
14
 
15
 
16
 
17
 
18
 
19
 
20
 
21
 
22
 
23
 
24
 
25
 
26
 
27
 
28
 
29
 
30
 
31
 
 
 

Crypto Whales Gobble Nearly $300,000,000 Worth of XRP in Just 10 Days, Says Analyst

DATE POSTED:October 1, 2024

Deep-pocketed investors have been busy accumulating massive amounts of XRP since September 20th, according to a popular crypto analyst.

Ali Martinez tells his 72,900 followers on the social media platform X that crypto whales bought $286.7 million worth of XRP, the token used to operate Ripple Labs’ payments platform, within 10 days.

“Ripple whales have bought over 470 million XRP in the past 10 days [as of September 29th]!”

ImageSource: Ali Martinez/X

XRP is trading for $0.61 at time of writing, down 3.4% in the last 24 hours.

Next up, the analyst says Bitcoin (BTC) may be forming a cup-and-handle pattern on the weekly chart.

A cup-and-handle formation is typically viewed as a bullish continuation pattern, suggesting that an asset is taking a breather after a steep rally before taking out a key resistance level.

“Current price action is just noise! If Bitcoin is truly forming a cup-and-handle pattern, the long-term bullish target could range between $194,000 and $352,000!”

ImageSource: Ali Martinez/X

The analyst also says that based on historical price data Bitcoin may finish the year in an uptrend.

“Historically, when Bitcoin closes September in the green, the final three months of the year have seen even bigger gains!”

ImageSource: Ali Martinez/X

Bitcoin is trading for $63,254 at time of writing, down 2.9% in the last 24 hours.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

  Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE

The post Crypto Whales Gobble Nearly $300,000,000 Worth of XRP in Just 10 Days, Says Analyst appeared first on The Daily Hodl.