Ali made a post on his X page to describe the more obvious buying move that has been made by XRP whales in recent days.
The crypto analyst in the tweet made on Sunday said that Ripple whales have bought more than 470 million XRP tokens in the last 10 days.
The continuous buying could have been triggered by some insider information. This is particularly noteworthy seeing that the next few days could be very significant for XRP with the possibility of SEC appealing the ruling that was in Ripple’s favor.
If this happens, it could negatively affect the price of XRP.
However, the buying spree by whales could be pointing to some information they know or anticipation that the SEC won’t appeal.
Read Also: Could Ripple’s (XRP) Price Cross the $1 Mark Soon? Here’s the Outlook
XRP Could Breakout From Key Resistance
Continuous buying has also raised the value of XRP, with its price moving up by more than 10% in the last 3 days.
XRP has been trading within a range of $0.490 (lower boundary) and $0.657 (upper boundary) since June. The buying spree has probably triggered some positive sentiment as the price is now trading at $0.650 at the time of writing. Breaking out of this resistance could trigger a continued bullish move.
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