XRP has experienced a surge in value after a judge delivered a significant win to Ripple in its case against the SEC. The judge ruled that XRP is “not necessarily a security on its face,” providing hope to crypto investors that other altcoins may also not be considered securities.
The price of XRP surged by 71%, reaching around 80 cents per coin. This ruling is seen as a step forward for the industry and may have implications for other ongoing SEC cases. Coinbase, which had previously de-listed XRP, announced that it would now allow trading of the asset again.
Due to this big news, we delve into the trading patterns of the top four XRP whales on the Binance Smart Chain (BSC), courtesy of Lookonchain, a leading crypto whale analyst on Twitter. The movements of so-called ‘whales’ – individuals or entities holding large amounts of a particular cryptocurrency – often dictate the market trends.
What you'll learn 👉
Whale 0xf522: The Patient Investor
The first whale, identified as “0xf522”, has been a consistent buyer of XRP, accumulating a staggering 25 million XRP (equivalent to $18 million) between April 22 and November 24, 2022.
The average buying price was a modest $0.43. Interestingly, this whale has chosen to provide liquidity on PancakeSwap, a decentralized exchange on the BSC, and has not sold any XRP yet. This suggests a long-term investment strategy. You can track this whale’s activity here.
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Show more +Whale 0x513d: The Opportunistic Trader
Our second whale, “0x513d”, has shown a more opportunistic approach. After the XRP price skyrocketed, this whale deposited 5.4 million XRP ($4.3 million) into Binance.
Currently, it holds 4.6 million XRP, valued at $3.3 million. This whale initially bought 10 million XRP through the address “0xa1c3” at an average buying price of $0.45. You can follow this whale’s movements here.
Whale 0x8456 and 0x8bf6: The High Rollers
The last two whales, “0x8456” and “0x8bf6”, both made significant purchases of 1.4 million XRP ($18 million) from Binance. Whale “0x8456” made purchases on December 13, 2022, and May 15, 2023, at an average price of $0.4, and has not sold any XRP since. You can follow its activity here.
Whale “0x8bf6” made its purchase on December 14, 2022, at a price of $0.39, and has also held onto its XRP. You can track this whale here.
The top XRP whales on the BSC have shown a variety of trading behaviors, from long-term holding to opportunistic trading. Their actions provide valuable insights into the potential future movements of XRP. As always, it’s crucial for investors to keep an eye on these whales as their actions can significantly impact the market.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
