Whales Go on XRP Buying Spree As Indicators Point To a Massive Rally Ahead, Dogecoin Could Break Out Soon

XRP whales have been loading up their portfolios as the altcoin continues to trade sideways after its recent price dip. In the last 24 hours, they have bought over 60 million $XRP and opened long positions of over $25 million.

The rise in whale action comes as analysts expect a major price pump for XRP. Whale action has also increased for Dogecoin, with Santiment reporting purchases of over 130 million DOGE at the dip. Like XRP, market experts believe a Dogecoin price rally could happen soon.

XRP Whales Go on Buying Spree Ahead of Potential Rally

The popular crypto figure, Ali Charts, recently shared data from Santiment, showing that XRP whales have bought 60 million $XRP in the last 24 hours. The huge purchases from whales comes as the XRP price has struggled over the last few days. 

The price of XRP has dropped by 10% over the last seven days, trading in the $3.10 range, as shown by data from CoinMarketCap. Whales are not only buying the dip, they are also betting on a rally. Irma Analytics reports that XRP whales have opened long positions worth over $25 million. 

One of the reasons for this optimism is the first White House Crypto Report, expected to be released on July 30. Another catalyst for the breakout is the spot XRP ETFs are expected to be greenlit by the SEC at any moment from now. 

In addition, the XRP/BTC chart, which has been in consolidation for almost 7 years now, is nearing a breakout. While Shibo believes the next stop for XRP is $10, THEFLASHTRADING has set a more realistic target for the breakout at $5. 

Dogecoin (DOGE) Eyes Mega Rally As Whales Buy the Dip

Dogecoin has been deeper in the bearish end of the market, losing 14% of its value in the last week. Whales have seized this opportunity to increase their holdings. According to a post shared by Santiment, these whales have added more than 130 million DOGE tokens to their portfolios in 24 hours. 

The rise in whale activity comes as analysts predict that a mega rally could happen soon for DOGE. The appearance of a “Spinning Top” candlestick pattern on the 1D Dogecoin price chart shared by Trader Tardigrade suggests that a major reversal could happen after the recent DOGE price correction.

Crypto analyst Javon Marks has also shown to be bullish on Dogecoin, pointing out a historical pattern similar to those of other bull cycles. As Marks explained, the potential of DOGE price to rally more than 226% from its current price to reach its all-time high of $0.73905 is so high.

Marks added that Dogecoin may even hit prices of $1.42 and $2.11 if the altcoin market extends its uptrend. This would mark a staggering 830% upside from the current price levels, making the memecoin one of the top crypto coins to watch.

An Altseason Could Be Around the Corner

The fact that two top altcoins, XRP and Dogecoin, have shown simultaneous bullish signals hints at the growing momentum in the entire altcoin market. While XRP’s rally could be based on regulatory clarity and institutional adoption, DOGE’s rally is fueled by retail sentiment and the market trend.