Ripple whales are on a buying spree, grabbing 120 million XRP tokens during a recent market pullback from $2.9 to $2.2 within the past 24 hours. That’s worth around $288 million. Crypto analyst Ali Martinez noticed the move and shared the news on X, saying these whales are taking advantage of XRP’s price drop.
In a tweet, Martinez confirmed “Whales bought the dip. They purchased over 120 million #XRP, totaling $288 million!.” This large purchase is exciting traders and many are seeing it as a sign that the price might soon bounce back even stronger.
Market experts also think that the whales’ buying could help keep prices steady, in turn showing strong faith in XRP’s future. After rallying to $2.9 amid market optimism, a sharp pullback left some investors questioning its near-term trajectory.
However, the whales’ buying spree gives some hope. By purchasing large amounts during a dip, whales often prevent prices from falling further, reassuring smaller investors and maintaining positive sentiment.
This activity is coinciding with Ripple CEO Brad Garlinghouse’s upcoming interview with 60 Minutes. The interview is scheduled to air tomorrow, December 8, and the talk will be on Ripple’s fight for regulatory clarity in the U.S.
Garlinghouse confirmed this date in a post, saying, “The interview I gave with 60 Minutes about crypto’s fight for regulatory clarity in the US will air live this Sunday.”
Also, the news that Gary Gensler is stepping down is still heating up the crypto space and adding to market optimism. According to a previous report, Trump has picked Paul Atkins to replace Gary under his administration and this is to take effect on January 20, the same day of Trump’s inauguration.
Right now, XRP is trading at $2.47, up 6.5% in the last 24 hours. Its trading volume has dropped slightly to $12 billion (-10% in 24 hours), but open interest in XRP futures is up by 6%, reaching $3.74 billion.
Also Read: Ripple’s XRP Become Third Largest Crypto Asset by Market Cap
