XRP coin whales have continued to amass more coins amid the recent market crash, suggesting that the crypto has bullish momentum ahead. Moreover, the recent performance of XRP and the broader crypto market also suggests that investors are once again entering the market after the recent pause. Ethereum whales, on the other hand, became active once again as the ETH price dropped to as low as $3,100.
Giant purchase from XRP coin whales
In the latest XRP news, Ripple whales have once again fueled speculation with their latest moves. According to reports, the whales have continued their buying spree as the broader crypto market has crashed recently, giving investors the opportunity to buy on a dip. In this regard, Bitcoin and top altcoins have recently recorded sharp declines, creating a buying opportunity on the dip for many investors. Leading crypto market analyst Ali Martinez highlighted the buying trend for XRP. He noted that whales have accumulated 80 million coins since December 17, when the market started to fall after a solid run in the last few days.
In addition, other large transfers of tokens have also fueled speculation in the cryptoassets space, especially amid recent developments. Meanwhile, Donald Trump’s election victory has already fueled optimism in the market this year. In addition, crypto has been very important this year, with Trump pledging to make the US the crypto capital. This has triggered speculation about a potential rally for cryptos issued by US-based firms.
In addition, the blockchain firm was recently reported to have been a key contributor to Donald Trump’s inauguration, along with other crypto firms. According to a FOX Business report, Ripple reportedly plans to donate $5 million to the fund, with Coinbase and Kraken reportedly giving $1 million each. This has further fueled sentiment for a pro-crypto regulatory environment in the US following Trump’s inauguration on January 20.
Ethereum whales take the bottom
Following yesterday’s crypto market crash, there is a brief rebound amid significant Ethereum (ETH) accumulation by whales amid the current ETH price declines. Blockchain analytics platform Lookonchain reported that ten newly created wallets collectively withdrew 17,698 ETH worth approximately $61.66 million from Binance. The activity of Ethereum whales underscores the renewed interest from large investors who appear to be capitalizing on the market’s recovery momentum. Meanwhile, Donald Trump’s DeFi Project World Liberty Financial continued its ETH buying spree, spending a total of 2.5 million USDC stablecoins to acquire another 759 ETH.
To date, World Liberty has purchased 9,587 ETH worth $35 million, with an average purchase price per ETH of $3,651. Despite market volatility, the organization reduced its unrealized loss on ETH holdings to $3.4 million, reflecting a narrowing of the deficit as prices recover. On the bright side, spot Ethereum ETFs also saw resumed inflows on Friday as institutional players jumped in to buy the dips. On Friday, ETH price touched a low of $3098 before bouncing back once again amid the Ethereum whale buildup. Ethereum price is trading around the $3,480 levels with a daily trading volume of over $61 billion. According to Coinglass data, 24-hour liquidations rose to $170 million amid the current price volatility.
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