Crypto whales have been accumulating Arbitrum, XRP, and Ondo, indicating potential strong performance for these altcoins in the upcoming altcoin season.
Points
- Whales are accumulating Arbitrum, XRP, and Ondo.
- Arbitrum shows resilience despite a downturn.
- XRP has seen a significant increase in holdings by large investors.
- Ondo’s institutional interactions and accumulation are rising
Crypto whales have identified Arbitrum, XRP, and Ondo as their top altcoin picks for the fourth week of July 2024. This accumulation suggests a potential bullish performance for these assets in the anticipated altcoin season.
Whales Pick Arbitrum Despite In Downturn
Arbitrum has made a surprising entry into the list of whale-favorite coins, driven by its association with Ethereum and the impact of Ethereum ETFs. Despite a year-to-date （YTD） performance drop of nearly 58%, Arbitrum’s price is showing signs of recovery, currently trading at $0.7204 with a 24-hour growth of 3.18%.
Ripple Is Challenging All the Odds
Ripple （XRP） has impressed investors with a 25.4% increase over the past 30 days and 7% in the last 7 days. According to a report by Santiment, the number of addresses holding between 100 million and 1 billion XRP tokens has surged since July 13, leading to an upward price movement.
ONDO Hits $1 As Whales Repeat Accumulation
Ondo has attracted significant institutional interest, with a 1468% increase in large holder inflows over the past week. This renewed interest follows its all-time high of $1.42 two months ago. The asset’s price is now poised to breach its ultimate resistance at $1.42 if this accumulation continues.
Explanation
- Whales’ Influence: Large investors, or whales, have significant market impact due to their large trading volumes. Their accumulation often signals potential price increases.
- Arbitrum’s Resilience: Despite a downturn, Arbitrum’s link to Ethereum ETFs and its layer 2 blockchain status provide a strong foundation for future growth.
- Ripple’s Growth: Increased holdings by large investors indicate confidence in XRP’s potential, likely driven by ongoing legal battles and positive market sentiment.
- Ondo’s Institutional Interest: High institutional interaction and accumulation suggest a strong future for Ondo, highlighting its potential as a valuable asset.