Ripple is blowing like hotcakes. The asset is bought en masse by large investors known as whales. Its course consolidated around $0.50 since the beginning of September. The media already suspect a real competition in this rush for Ripple, but above all it is the integration of XRP by blckrock in its expansion strategy in crypto which becomes even more interesting.
Last July the price of Ripple reached a ceiling of $0.83 following its victory history with the SEC, Securities and Exchanges Commission, financial police the United States. This victory allowed certain holders of Ripple assets to get rid of it at a very advantageous price.
According to several sources of information disseminated by social networks, Blackrock, the largest asset manager in the world, with an amount of 9000 billion dollars under its management, would seek to include the XRP token in its ambition to strengthen and expand its cryptocurrency. This speculation continues to be powered by on-chain data (on the chain) which means all operations which are carried out and recorded on the blockchain register, by example a transaction. Serious information therefore emanating from different transactions on the blockchain reinforce Blackrock’s ambition to capture of XRP with the aim of expanding its crypto.
Whales who are big investors have accumulated in just two months 690 million XRP. Despite these rapid profits reaped in two months, the price of XRP declined by 40% after its July peak of $0.83. And yet it is good interesting to note that according to the data on the chain, a group of whales quickly returned to a situation of accumulation of XRP from the start of the fall below $0.70 and that was at the end of July. To get an idea, in the period between July 30 and September 15, large investors who holding between 1 and 100 million coins have won a total sum of 690 million XRP.
The 690 million XRP that investors got their hands on is worth currently $345 million and their dollar buying pressure continues. At at the same time that the price of the altcoin has lost another 30% of its value ranging from 0.70$ to 0.50$, the whales have not given in to what we could understand as panic, on the contrary they kept their pressure on purchasing throughout their accumulation period.
There are of course numerous interpretations to explain this temerity of investors. Some believe that the new status of XRP which is that of not “being a stock” has pushed institutional investors like blockrock to bet on the success of XRP especially because the court decision in its favor was interpreted as a sign of clarity at the legal level.
Large whale investors are well known for their ability to keep cryptocurrency assets for a long time without reselling them. And they can also afford it because they have a lot of means. It is quite clear that the great quantity of XRP will come under their control since they buy it with great fanfare at the moment of the fall in price. Consequently this rush of whales on the XRP could lead to an increase in price and contribute to XRP creating higher levels at the time of the rising race against other cryptocurrencies currencies.
Everyone expects a turnaround in the trend. The mass purchase of institutional investors pushed the price of XRP upwards for a moment. All indices predict a race to the upside following this pressure purchasing whales. Relative Strength Index (RSI) trends confirm moreover this possibility of a rise in the price of XRP. This persistence of purchase of XRP by whales will decide its success soon. Let’s wait and see.
