Whales buy $1.8 billion XRP in a month

By: finbold|2025/05/07 23:45:01

Summary:⚈ Whales bought $1.8 billion XRP in 30 days despite weak price performance⚈ Open interest dropped, signaling declining speculative activity amid accumulation⚈ XRP broke downtrend May 6 but uptrend shows signs of fading alreadyMajor investors have taken XRP’s April recovery and early May downtrend as a sign to buy, according to the data Finbold retrieved from Glassnode on Wednesday.In total, whales have accumulated $1.8 billion worth of the token—nearly 1 billion XRP at the press time price of $2.14—in the last 30 days, leading some traders to question whether part of the buying constitutes insider activity.Change in the number of whale XRP addresses. Source: Glassnode StudioThe cryptocurrency’s performance in 2025 has generally been lackluster. It is just 1.17% up year-to-date (YTD) but 35.71% below its $3.31 highs from January.Similarly, the latest market activity does not offer much confidence that the overall trend will change, as the token proved unable to maintain its upward momentum in late April and rejected the $2.29 level twice within a week.XRP open interest collapses despite whale buying pressureAdditionally, as Finbold reported earlier on May 7, XRP’s open interest has collapsed from its recent high of 1.52 billion to 1.37 billion, indicating a significant drop in speculative betting, despite the substantial whale buying activity through April and in the first week of the current month.Nonetheless, the accumulation stands in stark contrast with the previous trend and signals, at the very least, confidence that the token can remain stable before rebounding. The first two weeks of April were especially noteworthy in terms of major holders selling as whales offloaded 370 million XRP within the time frame, as Finbold reported on the sixteenth day of the month.XRP price hints and continued uncertaintyExamining the token’s price, there is some indication that the buying has been timely as the cryptocurrency broke the prevailing downtrend on May 6 and has been advancing, albeit with some indication that the uptrend will not last.XRP one-week price chart. Source: FinboldIn total, XRP has been up 11.48% in the last 30 days, down 0.52% in the last 5 days, and 2.8% above the latest lows. However, once again, it is 1.38% in the red since midnight at its press time price of $2.14.Featured image via ShutterstockThe post Whales buy $1.8 billion XRP in a month appeared first on Finbold.

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