A closely followed analyst says that deep-pocketed crypto investors have scooped up over $2.5 billion worth of XRP and Dogecoin (DOGE) in just a couple of days.
In a new thread, crypto trader Ali Martinez tells his 111,500 followers on the social media platform X that whales have been making moves to accumulate payments-focused altcoin XRP.
“Whales bought roughly one billion XRP in 48 hours!”‘
At time of writing, XRP is trading for $2.54, indicating that the whales accumulated $2.54 billion worth of the third-largest altcoin by market cap.
Moving on to the popular meme asset DOGE, Martinez says that crypto whales gobbled up massive amounts of the dog-themed altcoin over a two-day period.
“Whales bought over 470 million Dogecoin DOGE in 48 hours!”
With DOGE trading for $0.338 at time of writing, the whales’ Dogecoin trove is now worth $158.86 million.
In total, the deep-pocketed investors accumulated $2.698 billion worth of XRP and DOGE.
Looking at the charts, Martinez predicts that XRP will skyrocket to a huge price tag in February, noting that the asset has two potential entry points.
“The first is the rising trendline of the pennant, at $2.05. The second is a breakout outside of the pennant, at $2.50. Regardless of your entry, the target remains $10!”
The crypto strategist goes on to note that digital assets saw declining levels of capital inflows in the last 30 days.
“Capital inflows into the crypto market went from $134 billion to $68 billion over the past month, representing a 49% decline.”
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Featured Image: Shutterstock/Olga Medvedeva
