The post XRP Whales Keep Buying Despite Flash Crash: Price to Surge? appeared first on Coinpedia Fintech News

In a tumultuous 24-hour period for the cryptocurrency market, XRP, the digital asset backed by Ripple, faced a significant drop along with many other digital currencies, leading to substantial sell-offs. According to Coinglass data, more than $103 million in long trades were sold off during this period.

XRP experienced a notable mini flash-crash, plummeting to a psychological support level of around 45 cents. However, it stabilized during the early Asian market on Tuesday, trading at approximately 49 cents. All this happened during a time when the overall sentiment in the crypto market was pessimistic and bearish, mainly because of the Israel-Palestine conflict and other global issues.

Whale Watching

A detailed sentiment by market intelligence platform Santiment showed that there were fewer big transactions on the XRP network compared to 2021 and 2022. However, accounts known as “sharks” and “whales,” which hold between 100,000 and 100,000,000 XRP, kept on buying.