XRP Whale Buying Report: Real Numbers and Market Impact

A closer look at the data calls the XRP whale buying report into question. What is actually shown is an accumulation of about 470 million XRP, which is far from the 770 million initially reported. For the most part, this is due to internal transfers and exchange wallets rather than real market buying.

Dissecting the XRP Whale Buying Report

The 770 million figure that has been circulated in reports of XRP whales accumulating tokens after the Binance hack is an exaggeration, according to a recent analysis on Cheeky Crypto. The net gain for large holders is roughly 470 million XRP. One only needs to point to the 656 million XRP that flowed into the Binance 13 wallet as the biggest single jump; but as the host of Cheeky Crypto explains, that is more a matter of exchange activity than organic accumulation by new investors.

Real Accumulation Versus Internal Transfers

If you exclude the exchange movements, the numbers look quite different. Over the course of the week, large holders with no ties to an exchange have added 463 million XRP to their holdings. It is a considerable amount but nowhere near the 770 million that headlines might suggest. The team at Cheeky Crypto emphasizes these distinctions when it comes to gauging whale activity and the mood of the market.

Price Action and Historical Context

XRP has recovered from the hack in price terms, regaining its pre-hack level. At the time of the video it was trading around $1.31, about 5 percent higher than before the incident, so those who did not sell their tokens after the trouble have come out without loss.

What to Watch Moving Forward

There is also the matter of price surges. The Cheeky Crypto host points to past performance to show that even sizable purchases by a whale will not necessarily push prices up if they are already high; you need demand from the broader market for any lasting gains. Going forward, the channel advises keeping an eye on the daily closes and what is happening in the big XRP wallets. A price that can hold above pre-hack levels would be evidence of more genuine demand. This approach to the market should prevent traders from being misled by headline figures.