XRP's price recovery, coming from the market crash of the last week, was spurred by the accumulation activity of large whales.
The price recovery, coming from the market crash of the last week, was spurred by the accumulation activity of large XRP whales. Data from blockchain analytics firm
showed that the cohort hoarding between 10 million and 1 billion tokens added to their positions aggressively in the last 24 hours.These large whales held a combined total of more than 16 billion XRP tokens at the time of writing, worth $8.32 billion at the press time market price. The flurry of whale activity on Sunday was also reflected in the significant uptick in the total number of whale transactions worth more than $1 million.However, despite the interest shown by whales, the short-term sentiment surrounding the token remained grim, as the weighted sentiment indicator remained in the negative zone.XRP’s futures market followed the fluctuations in the spot market.
However, the pullback changed the dynamics as long-position traders became a minority at the time of writing.The overall mood in the XRP circles has been upbeat ever since the partial win in the hotly-contested legal battle against the U.S. Securities and Exchange Commission . But the battle is far from over as the regulator’s request for appeal of the 13 July order was partially
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