A surprising reveal has been made by famous crypto analyst Ali Martinez, revealing that XRP bookmakers are on a buying spree for the coin. They have collectively purchased 11 million XRP over the past week.
The total value of these bookmakers’ buying frenzy was $6.82 million, reflecting the eagerness of bookmakers to participate in the bull market.
Analyzing the on-chain data, Martinez shows a significant increase in the movement of XRP whales. He shows a graph detailing the purchases of bookmakers, which can be seen as they are raking in XRP. Join over 11 million XRP
What makes this development especially interesting is that it comes amidst an ongoing downtrend.XRP price It has made lower highs and lower lows over the past three weeks. However, this downtrend has not prevented the bookmakers from buying.
A notable example was seen by analysts last Tuesday and Wednesday, when the price of XRP dropped more than 5.4% and immediately rebounded the next day. Analysts and experts view the bookmaker’s buying spree as a good sign because it indicates strong buying interest from these big players.
Source: U.Today
2023-11-27 00:26:26
#Dealers #buy #million #XRP #Sideway #Market
