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

Tony "The Bull" Severino

5 years ago

3 mins read

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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.

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.

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.

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.

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?

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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