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.
A recent post by Ali on his X page has highlighted the massive buying activity undertaken by XRP whales over the last 10 days. According to the crypto analyst, these whales have collectively purchased more than 470 million XRP tokens.
The continuous buying activity could be linked to some insider information, especially considering the upcoming possibility of the SEC appealing the ruling in Ripple's favor.
If the SEC does decide to appeal, it could have a negative impact on the price of XRP. However, the buying spree by whales may indicate that they have some knowledge or anticipation that the SEC will not be appealing the decision.
Continuous buying has also contributed to an increase in the value of XRP, with its price rising by over 10% in the last 3 days.
Since June, XRP has been trading within a range bounded by $0.490 (lower boundary) and $0.657 (upper boundary). As of the time of writing, the buying spree has pushed the price up to $0.650, breaking out of this resistance could lead to a sustained bullish move.
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