The post Major Ripple Announcement Incoming? XRP Whales Add 453M Tokens appeared first on Coinpedia Fintech News
XRP is one of the most sensational cryptocurrencies. In the recent past, it has hit headlines several times for a wide variety of reasons, from its tough legal battle with the US SEC to its CEO’s meeting with US President-elect Donald Trump.
Since the US presidential election, the XRP market has surged by at least 116.51%. Recently, a crypto investor, Armando Patoja, has reported some unusual developments in the way whales interact with the asset. Is something big going to happen in the XRP market? Let’s try to understand the scenario a little deeper. Ready?
XRP Whales Accumulate 453.3 Million Tokens
A post by Armando Pantoja on X notes that at least 453.3M tokens have been accumulated by whales in the last seven days. The post highlights that the last whale accumulation is the highest in at least three years.
Currently, the price of XRP stands at 1.0919. This indicates that through the last accumulation whales have received at least $494.9M worth of XRP tokens.
Whales often invest heavily when they feel assured that something big is likely to happen with an asset.
Rumours of a Goldman Sachs, HBAR and XRP Partnership
Another crypto investor, Shawn, in his recent post, suggests the possibility of a partnership between Goldman Sachs and XRP. The post does not provide any concrete evidence to confirm it.
Many believe that there could be a connection between the latest whale accumulation and the speculated Goldman Sachs-XRP partnership.
Reports indicate that Goldman Sachs is preparing to establish a new company, which will use blockchain technology for its digital asset platform. According to the reports, the company aims to enable the creation of financial instruments, trading and investment services.
XRP Market Overview
In the last seven days, XRP has grown by 61.9%. In the past one hour alone, it has climbed at least 0.3%. At the start of this month, the XRP price was nearly $0.5138. It dropped slightly to $0.5026 on November 8.
On November 4, buyers took control of the market, pushing the price upwards. On November 16, the market touched a monthly peak of $1.1195. Since November 4, the market has surged by 118.20%. The market now stands at 1.0992 – at least 66.83% lower than the all-time high of 1.8339 recorded on April 14, 2021. This implies that there is considerable room for growth in the market.
In conclusion, XRP’s massive whale accumulation and speculations of a Goldman Sachs partnership suggest a big move might be on the horizon.