The recent market crash led to a decline in the prices of most cryptocurrencies, including Ethereum (ETH) and Ripple (XRP). However, despite the drop in value, whales took advantage of the situation to increase their holdings of these tokens. This influx of capital from key investors could potentially signal a positive trend reversal for ETH and XRP in the near future.
In the case of Ethereum, whale activity has notably surged, with large accumulations from top addresses indicating strong buying sentiment. This increased interest from whales, as evidenced by the rise in Whale Transaction Counts, may help drive ETH’s price upwards. Despite the recent price drop, indicators on ETH’s daily chart suggest the possibility of a rebound, with the lower limit of the Bollinger Bands touched and an uptick in the Relative Strength Index.
Similarly, XRP experienced a drop in price during the market crash, but like ETH, whale activity around the token increased. With a rise in the number of whale transaction counts and an overall dominant buying sentiment in the market, XRP may also be poised for a potential uptrend. This newfound interest in both XRP and Ethereum bodes well for a bullish rally that could see these tokens reclaim their lost market caps in the coming weeks.