Whales Bought the XRP Dip While DOGE Hits Key Accumulation Zone: Details

TL;DR

Ripple's native token, XRP, experienced a significant downturn during the market correction on Thursday and Friday, falling below $3 after recently achieving a new all-time high. This dip presented an opportunity for large investors to increase their holdings. Simultaneously, Dogecoin's recent surge has brought it back into a historically significant accumulation zone.

Whales seized the opportunity, accumulating over 130 million $XRP within the past 24 hours!

Recall that XRP, the third-largest cryptocurrency, reached a new all-time high late last week, surpassing its 2018 peak of $3.4 and climbing beyond $3.6. However, a subsequent retracement occurred, culminating in a drop below $3 on Friday.

Despite factors such as market concerns, liquidations on exchanges, and reports of a substantial XRP sell-off by a Ripple co-founder, the cross-border payments token managed to hold above the critical $3 support level. As of press time, it has recovered to around $3.17. This price decrease attracted considerable attention from large investors, who accumulated over 130 million XRP tokens in just 24 hours, representing a value of approximately $400 million.

Furthermore, market sentiment regarding XRP (and BTC) has shifted away from extreme greed, potentially signaling a bullish outlook.

Regarding DOGE, analyst Ali Martinez points out that it has returned to a "range that has historically served as a buying zone, triggering major bull runs."

He emphasizes the importance of DOGE reclaiming the $0.25 resistance level, describing it as a "huge win." Successfully doing so would pave the way towards $0.36 with "almost zero resistance."

Dogecoin $DOGE reclaiming $0.25 is a huge win because above that, there’s almost zero resistance all the way up to $0.36.