Are Whales Rotating Into XRP? BTC and ETH Holdings Slide
Large Bitcoin investors have sold roughly $2.6 billion worth of BTC in the last seven days, while Ethereum whales reduced holdings by $40 million, but XRP whales accumulated $72 million in the same period.
The cryptocurrency market continues to face downward pressure as large investors, known as whales, adjust their holdings across major digital assets. Bitcoin has been particularly affected, with significant sell-offs driving its price down from nearly $80,000 to under $73,000 in recent days.
According to popular analyst Ali Martinez, Bitcoin whales have sold over 34,000 coins in the past week, worth approximately $2.6 billion. These large holders now possess about 5.24 million BTC units, representing 26% of Bitcoin's circulating supply.
Ethereum Pressure
Ethereum hasn't been spared from the downturn, though its whales have been reducing exposure at a slower pace compared to Bitcoin holders. Over the last seven days, Ethereum whales have parted with approximately 17,800 units, worth roughly $40 million.
The leading altcoin has hovered near the crucial psychological $2,000 level, currently trading around $2,060. Analysts consider maintaining this level vital, as a breakdown could trigger a more significant decline. X user Ted noted: "This is a major support zone for Ethereum, and losing this would be brutal."
XRP Accumulation
In contrast to Bitcoin and Ethereum, XRP whales have been actively accumulating tokens. They acquired roughly 65.32 million units over the past four days, representing close to $72 million in value. This has increased their total holdings to more than 4 billion tokens.
However, the XRP accumulation hasn't been enough to counteract broader market weakness and declining institutional interest. Spot XRP ETFs have experienced significant outflows over recent trading sessions, suggesting the downtrend may continue despite whale activity.
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