Accéder au contenu principal

XRP Whales Purchase $7 Million Worth Of Tokens In Past Week – Bulls Taking Over?

XRP has had a relatively quiet price performance over the past week. However, recent data revelation points to massive on-chain activity for the altcoin in the last seven days. Large investors appear to be taking advantage of the cryptocurrency’s sluggish performance in the previous week to increase their portfolios. 

Whales Buy $7 Million Worth Of Tokens – Impact On Price?

Prominent crypto analyst Ali Martinez, in a post on X, revealed significant whale activity in the XRP market over the past week. According to data from Santiment, these large investors purchased about 11 million tokens (worth roughly $6.82 million) in the last seven days.

The chart below shows a significant uptick over the past week in the holdings of XRP whales, particularly those holding between 100,000 to 10 million tokens.

Chart showing an uptick in whale holdings | Source: Ali_charts/X

This latest on-chain data suggests growing interest amongst the major holders and large investors. And given the significance of this class of XRP investors, massive buying activity could be a precursor or an indicator of a potential price rebound.

However, recent blockchain data suggests that a potential price upswing for the altcoin might be a little far-fetched. A particular whale transferred a substantial amount of XRP tokens to crypto exchanges in the past week.

According to recent data from Whale Alert, more than 50 million tokens (worth approximately $31 million) were moved to centralized exchanges. The major holder transferred 25 million coins in one transaction to the crypto exchange Bitstamp, while 25.2 million tokens were sent to Bitso. 

Unsurprisingly, these transfers to centralized exchanges have triggered bearish sentiment amongst XRP investors. Historically, this type of transaction often precedes selloffs, thereby resulting in speculations about a potential dip in the cryptocurrency’s value.

XRP Price – Overview

As of this writing, the XRP token is valued at $0.621711, reflecting a negligible 0.4% price increase in the past 24 hours. Similarly, the altcoin’s performance has not been particularly impressive on the weekly timeframe. According to data from CoinGecko, the cryptocurrency’s price has jumped by 1.7% in the past seven days. 

Nevertheless, XRP seems to be recovering well following the ETF fiasco that put downward pressure on its price. With a market capitalization of roughly $33.4 billion, the token currently ranks as the fifth-largest cryptocurrency.

XRP

XRP price showing positive signs of recovery on the daily timeframe | Source: XRPUSDT chart on TradingView

Featured image from iStock, chart from TradingView




Source link

The post XRP Whales Purchase $7 Million Worth Of Tokens In Past Week – Bulls Taking Over? appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

13 Apps and Websites That Will Pay You To Watch Ads

Do you know you may get paid to look at advertisements? You possibly can, however b efore you get too excited, perceive that watching advertisements will not exchange your day job or purchase you a brand new automotive. They do, nonetheless, create nice alternatives to monetize your downtime.  How To Watch Adverts for Cash Should you personal a smartphone, there are a lot of methods to earn cash on this gig financial system. Watching advertisements is a wonderful method for 14 and 15-year-olds in search of work  to earn money. Earn cash by watching advertisements briefly bursts in your free time, like when your youngsters are napping or throughout a espresso break. You might also be capable to redeem factors without cost Amazon present playing cards or present playing cards from different retailers . Which brings us to the query, how precisely do you receives a commission to look at advertisements, and the way a lot cash are you able to anticipate to make? What websites do y...
Enregistrer un commentaire
Lire la suite

AI research highlights in finetuning ChatGPT-like LLMs

This article is a compilation of 23 AI research highlights, handpicked and summarized. A lot of exciting developments are currently happening in the fields of natural language processing and computer vision! In addition, if you are curious about last month’s highlights, you can find them here: AI Research Highlights In 3 Sentences Or Less (April-May 2023) Direct Preference Optimization: Your Language Model is Secretly a Reward Model ( https://ift.tt/fV1dLTZ , 29 May 2023) Direct Preference Optimization (DPO) is a new alternative to reinforcement learning with human feedback (RLHF) with Proximal Policy Optimization (PPO), which is used for instruction-finetuning models like ChatGPT. Here, the researchers show that the cross-entropy loss for fitting the reward model in RLHF can be used directly to finetune the LLM. According to their benchmarks, it’s more efficient to use DPO and often also preferred over RLHF/PPO in terms of response quality. LIMA: Less Is More for Alignme...
Enregistrer un commentaire
Lire la suite

MicroStrategy Spends Another $600M to Purchase Over 16,000 BTC

MicroStrategy, the NASDAQ-listed business intelligence software giant that made waves over three years ago with its pro-Bitcoin strategy, has gone on another buying spree. The firm’s former CEO and founder – Michael Saylor – outlined the latest BTC purchase, which was worth nearly $600 million. Saylor asserted that the company he founded over three decades ago had spent $593.3 million to buy 16,130 BTC more for an average price of $36,785 per Bitcoin. This has become MicroStrategy’s second BTC purchase for November. As reported before, the firm bought 155 BTC for $5.3 million at the start of the month. The latest acquisition puts the company’s total stash at 174,530 BTC. It spent just under $5.3 billion to purchase the amount. This means that MicroStrategy sits on a massive unrealized profit of over $1.2 billion, given BTC’s current price of $37,750. MicroStrategy has acquired an additional 16,130 BTC for ~$593.3 million at an average price of $36,785 per #bitcoin . As of 11...
Enregistrer un commentaire
Lire la suite