XRP Whales and Institutions Signal Potential Bottom at $1

Ripple's XRP has been experiencing mixed sentiments in recent days, dipping briefly below $1 before recovering. Despite this dip, whales and institutional investors showed aggressive buying, hinting at potential price recovery.

Whales bought over 72 million XRP tokens in a single day after the dip, with their holdings increasing from 12.09 billion on August 12 to 12.18 billion tokens on the following day.

Institutional investors also backed the whale accumulation, as XRP ETF inflows turned positive after four days of inactivity. The Bitwise XRP ETF accounted for all $2.25 million in daily net inflow, with a cumulative net inflow of $512 million.

The price action remained bearish, hinting at a potential reversal, but the current support at $1.0020 has held, with four touches of this level on the hourly timeframe.