Recent data shows a rise in large XRP investors.Supply distribution changes hint at increased whale activity.Significant purchases by whales may influence XRP prices positively.

When it comes to XRP, everyone’s attention once again turns to the market. Emerging on-chain data reveals that the number of large cryptocurrency investors has recently increased on the XRP side, which could potentially lead to a price rise for XRP.
The Status of Investors Holding Over 1 Million XRP
According to data provided by on-chain analysis firm Santiment, the number of XRP investors holding at least 1 million coins in their wallets has noticeably increased recently. A significant indicator in this regard was the “supply distribution” which points to different wallet groupings and emerged from tracking the total number of addresses.
Addresses are segmented into cohorts based on the current amount of assets they hold. For example, when referring to the 1 to 10 coin group, it draws attention to all investors owning between 1 and 10 XRP.
Returning to the current topic, addresses holding 1 million or more coins have always been noteworthy.
With current prices, a wallet holding mentioned 1 million XRP is valued at $544,300. Consequently, it is fair to say that investors in this group possess significant assets.

The graph below shows how the supply distribution for wallet addresses in this range has shaped over the past year:

As reflected in the graph above, the number of XRP addresses holding at least 1 million tokens has noticeably increased in the last few weeks. As of today, 2,013 wallet addresses fall within this range, very close to the value seen in June 2023.

The recent increase in value in the indicator shows that whales are turning their attention to this cryptocurrency. Naturally, this situation could indicate a positive outlook for the price of the cryptocurrency.
Analyst’s Comment on XRP
The trend observed in XRP can be interpreted in other ways, leading investors to look at the total asset amount held by whales. Ali Martinez highlighted this in a shared post, where wallets holding between 10 million and 100 million XRP appeared to be increasing their purchases.
Looking at the graph, it is evident that a significant part of the accumulation occurred after the recent drop in the price of the cryptocurrency, suggesting that whales aimed to turn this situation to their advantage.
Just last week, XRP whales made purchases worth nearly 17 million dollars, acquiring 31 million tokens. Following these purchases, there was a notable recovery in the XRP price, which might mean that earlier buying whales found what they were looking for.
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#Xrp rose to a two-month high on March 21, despite crypto markets mostly consolidating in today’s session. The token surged by as much as 25% on Tuesday.

XRP/USD hit an intraday peak of $0.4603 earlier in today’s session, a day after trading at a low of $0.3728.

As a result of Tuesday’s move, xrp has now moved to its strongest point since January 23, breaking out of a key resistance level in the process.

The digital currency XRP has recently reached a two-month high, despite the ongoing consolidation in the cryptocurrency market. This is a significant achievement for XRP, which has been struggling to gain momentum in recent months.

Despite the volatility and uncertainty in the crypto market, XRP has managed to maintain its upward trajectory. This is a testament to the resilience and potential of this digital asset, which has been gaining popularity among investors and traders alike.

Overall, the recent surge in XRP's price is a positive sign for the crypto market as a whole. It demonstrates that there is still significant demand for digital assets, despite the challenges and obstacles that the industry faces. As more investors and traders recognize the potential of XRP and other cryptocurrencies, we can expect to see continued growth and innovation in this exciting and dynamic space.

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15m TF. After a strong impulse movement, the price is in consolidation, within which we can observe active work with internal liquidity, manipulation of the low and falling volumes, which indicates that a major player has taken a position.

At the moment, we have successfully tested the upper boundary of the buyer's zone of interest with a poi swipe, and have given a local breakdown of the structure (bos) to the ascending one.

I expect a preload to the downward slope, followed by an impulse upward movement and the breakdown of important resistance levels of 0.5577, 0.5748, as well as an update of the local maximum at 0.5856

What crypto news is affecting the blockchain sector today? In particular, how are The Graph (GRT), Terra Classic (LUNC) and Ripple (XRP) performing? Below are all the details.

Summary

Analysis of The Graph, LUNC and Ripple (XRP) crypto assets

Price action for The Graph: will there be a rise for the crypto? Comparison with LUNC and Ripple (XRP)

LUNC’s week: about 33 million Terra Classic burned

Ripple case: XRP will go up if there is a positive ruling in court

Analysis of The Graph, LUNC and Ripple (XRP) crypto assets

It is worth mentioning that The Graph is a decentralized protocol that aims to index data on blockchain. Its operation can be compared to that of a search engine, except that The Graph operates on decentralized networks.

The LUNC token, on the other hand, is the evolution of a coin and related blockchain that caused a stir both in its rising phase and when it “exploded.” The coin referred to is Luna and its related blockchain, Terra.

Finally, Ripple (XRP) is a real-time funds transfer system, a network for currency exchanges and remittance sending, created in 2012 by Ripple Labs.

Price action for The Graph: will there be a rise for the crypto? Comparison with LUNC and Ripple (XRP)

Based on the latest data that has emerged, it appears that the recent price action for The Graph (GRT) is positive and could lead to a substantial increase in the coming weeks. The Graph is an indexing protocol used to query data, whose native token is GRT.

The price of GRT has fallen below a long-term descending resistance line since it reached an all-time high of $0.92 in February 2021. The downward movement led to a low of $0.05 in November 2022.

Since then the price has risen, reaching a new annual high of $0.23 just last month. However, despite the increase, the price was once again rejected by the resistance line.

Despite the rejection, the weekly RSI is still above 50, a factor considered a bullish signal. Hence, if the price of the GRT token breaks out, it could rise to the next resistance at $0.52.

This would be equivalent to a 244% increase from the current price. However, if the rejection continues, the price of The Graph could revisit its yearly lows near $0.06. These predictions are based on the fact that the crypto GRT suffered a major decline earlier this month.

Specifically, The Graph’s analysis showed that it was trading in a negative environment, with bears having a strong grip on the market. In fact, GRT was at its lowest with a loss of more than 7.10% not even three weeks ago.

LUNC’s week: about 33 million Terra Classic burned

The Terra Classic (LUNC) community has not neglected the ongoing initiative, despite a reduction in its social commitments, as several projects and validators have collectively burned nearly 33 million LUNC so far this week.

Total burns for the week currently total 32,929,066, with four entities accounting for 99.6% of these burns. These include projects such as Cremation Coin and Terra Casino and validators such as LUNC DAO and Luna Station.

Specifically, the Cremation Coin burn was the largest and most recent of this week’s transactions. In fact, the project burned 18.3 million Terra Classic tokens yesterday alone.

Its burn represents 55.6% of the total burns for this week at the time of reporting. Despite the magnitude of Cremation Coin’s latest burn, it is still the lowest single burn in the project for March, as the last three burns involved 77 million tokens on 21 March, 106 million LUNC on 14 March and 51 million tokens on 7 March.

This brings its total burns for this month to 252.3 million LUNC. In addition, Terra Casino, the LUNC-based online bookmaker launched last November, has also been quietly burning hundreds of thousands of LUNC tokens every day for the past seven days, as revealed by on-chain data.

This week alone, the project has burned 1.99 million LUNC tokens in two transactions. At its launch, the betting platform promised to burn LUNC with a portion of its betting volume, and it has since kept that pledge.

In the past 7 days, Terra Casino has made 7 burning transactions, each equal to at least 990 LUNC tokens. As a result, its cumulative consumption in the last week is 6.9 million Terra Classic.

Ripple case: XRP will go up if there is a positive ruling in court

Ripple’s defense attorney John E Deaton, who represents XRP investors in the ongoing court dispute between Ripple and the US Securities and Exchange Commission, suggested that the token for cross-border payments could experience a significant price increase if the San Francisco-based company prevails in court.

Thus, the upcoming ruling is expected to decide the fate of XRP. Moreover, in a Twitter post dated 27 March, Deaton said the judge’s decision will come in the next few weeks or even as early as this week.

This comes after Ripple submitted a letter of supplemental notice of authority to further strengthen their defense with fair notice.

The said notice was based on the “legal scuffle” between Voyager and the SEC, in which the judge overseeing the case, Michael Wiles, denied the regulator’s objections to hinder the sale of the bankrupt cryptocurrency lender to Binance.US.

According to Deaton, XRP has the most attractive risk/reward ratio and its price could skyrocket if the judge rules in favor of Ripple. This would mean that the SEC’s claims that Ripple sold XRP as an unregistered security to inexperienced investors were unfounded.

Meanwhile, should the SEC win the case, the US attorney believes Ripple will appeal the decision, thus maintaining the status quo.

XRP is trading at $0.52 at the time of publication, according to CoinGecko data.

The token has exploded 19.2% in the past seven days, while Bitcoin has posted losses of 4.5% in the same time frame. What’s more, despite the obstacles currently affecting cryptocurrency markets, the XRP Ledger continues to grow significantly.

Total accounts created on XRP are almost reaching 5 million, a sign of its growing adoption and use cases. Either way, as Ripple continues to add new users to the XRP ledger, any positive or negative developments in the SEC case are bound to have a significant impact on the price of XRP.

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#bitcoin has already launched the first part of its bull run, and keep in mind that major economies and banks all over the world have been rushing to provide services for #cryptocurrency exchanges such as the United Kingdom, and large organizations have lately purchased $BTC.

The crypto market faces a potential storm in January, with analyst Markus Thielen of Matrixport predicting a wave of rejections for all currently proposed Bitcoin spot ETFs by the Securities and Exchange Commission (SEC).
This unexpected news has triggered a sell-off across the market, sending major cryptocurrencies, including Bitcoin (BTC), XRP, Solana (SOL), and Cardano (ADA), tumbling.
Thielen’s analysis cites persistent shortcomings in the ETF applications as the likely cause for rejection. He believes these proposals still lack the necessary elements to address the SEC’s concerns about market manipulation and investor protection. While recent dialogue between applicants and the SEC offered glimmers of hope, Thielen remains firm in his assessment.
Pro crypto attorney John Deaton recently expressed his belief in an SEC rug pull ahead of the spot ETF approvals, and Thielen’s analysis adds credence to this stance.
The Fallout from the Report
Adding to the bearish sentiment is Thielen’s projection of the potential fallout from the SEC’s decision. Should all applications be rejected, he anticipates extensive liquidations within the perpetual long Bitcoin futures market, potentially leading to a 20% drop in Bitcoin’s price, pushing it back towards the $36,000 – $38,000 range.
Currently, the market reflects the analyst’s concerns. BTC dropped from over $45,000 to a 24-hour low of $40,813.53, before recovering slightly. The biggest cryptocurrency in the market is currently trading at $42,263.53, showing a 6.69% price drop over 24 hours.
Other major cryptocurrencies have not fared better. XRP is trading at $0.5644 with a 24-hour decrease of 10.22%. It fell from over $0.63 to a 24-hour low of $0.5393.
Solana (SOL) has also dropped below $100, its major resistance level, and is trading at $96.95, down 11.68% in the last day.
Cardano (ADA) also got hit massively by the rumor. ADA is currently trading at $0.5485 with a 10.61% price decline and other popular tokens like Ethereum (ETH), Binance Coin (BNB), Litecoin (LTC), and Dogecoin (DOGE), are also feeling the heat of the destructive waves.
At $1.61 trillion, the market cap of the entire crypto market is down 7.50% with a further decline expected. The SEC might be looking to foil the hopes of crypto investors in the 2024 bull run, just like it hampered XRP’s progress with the lawsuit over the last few years.
However, amid the chaos, Thielen offers a light at the end of the tunnel. He maintains a bullish long-term outlook for Bitcoin in 2024.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
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A trader reportedly made a significant profit by clearing out a large number of LSD tokens, earning around $1.7 million before the market started to decline. According to Spot On Chain, The trader then swapped out 1.5 million $LDO at $2.33 and made an approximately $1 million profit. They also swapped out 65,000 $RPL at $44.49 and earned around $661,000. The trader had invested in $LDO and $RPL a year ago and had been a strong holder ever since.

Regarding $LDO , the trader had amassed 1.536 million $LDO in early 2022, using 1,000 $ETH and enjoying an average price of $1.68 ($2.58 million). As soon as the market started to show signs of dumping, the trader swapped all of their $LDO for 1,871 $ETH . The average selling price was $2.33 ($3.58 million), resulting in an approximately $1 million profit.

Regarding $RPL , the trader got 61,500 old $RPL from 600 $ETH in 2021 (approximately $2.2 million) and got 59,200 $RPL from 2 million $USDC in 2022. The trader has a total of 120,700 $RPL at $34.4 (approximately $4.2 million).

They recently swapped 65,400 $RPL to 1,500 $ETH ($2.9 million) at $44.5. The realized profit is $661,000, and the unrealized profit is $449,000 (holding 55,400 $RPL ).

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