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Home Cryptocurrency news Ripple

Ripple Effect: XRP Whales Buy Up A Sea of Small Fish Selling

Tony Spilotro by Tony Spilotro
10 months ago
in Ripple, Cryptocurrency news
Reading Time: 3min read
ripple xrp whale small fish crypto
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Blockchain data transparency offers a figurative ocean of information at a click. New data shows that Ripple whales are buying up any XRP small fish sellers are offering up.

In the past, XRP broke out from downtrends with an explosive move. With so many whales accumulating, will there soon be a “thar she blows” moment?

Ripple Protocol Reveals Public Wallet Data, What Does It Say?

XRP is the native cryptocurrency token of the Ripple protocol, another distributed ledger like Bitcoin or Ethereum.

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The beauty of blockchain distributed ledger technology is the transparency it provides. Anyone can access this information, at any time using various explorer tools.

Blockchain data available includes how many transactions are made, at when, and for what amount. It also contains details of how much crypto is stored in the wallet, along with the wallet address.

Related Reading | Ripple Whale: It Only Takes $20,000 To Become a One-Percenter 

This publicly available information can be helpful in fundamental analysis in cryptocurrencies. By understanding wallet inflow or outflow, or the size of wallets, it can sometimes tip off market movements.

XRP transactions act the same, with all of this detailed information visible through the Ripple network.

A divergence in XRP whale wallets and small fish crypto investors may provide clues as to what to expect next.

ripple xrp whale small fish crypto

XRP Whales Are Accumulating,  Absorbing All Selling In A Sea of Small Fish

According to blockchain data, wallets containing a balance of 175K to 775K XRP have been accumulating at a full pace.

Meanwhile, smaller wallets containing just 3K to 15K XRP are either selling or still holding strong.

The first subset represents the top 0.1 through 0.5 percent of accounts. The second group represents between the top 4 and 10 percent of accounts.

The size of the second group is much larger, yet the data shows whales are soaking it all up.

Related Reading | Number of Ripple Whales Spikes to New All-Time High as XRP Eyes $0.20 

Whales get their name due to their sheer size and ability to make a big splash in markets. They also can absorb more opposing market pressure than most participants.

If XRP whales are accumulating, it could be because history often repeats. In the past, Ripple skyrockets after a confirmed breakout of downtrend resistance. If it happens again, the asset could target $14 per token.

Past research revealed it only takes a $20,000 investment in the altcoin to be a “Ripple one-percenter.” However, with the largest XRP accounts growing in size, this wealth may since have been redistributed.

Whatever the case, there’s no arguing with data. And data shows whales are buying up an entire sea of small fish. Will there be a “thar she blows” moment soon in the cryptocurrency?

Tags: blockchaincryptoRipplewhalesxrpXRPBTCXRPUSDxrpusdt
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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