A renowned analyst reveals that wealthy cryptocurrency investors have acquired more than $2.5 billion worth of XRP and Dogecoin (DOGE) in just a few days.

In a recent post, crypto trader Ali Martinez informs his 111,500 followers on the social media platform X that whales have been actively accumulating XRP, a payment-focused altcoin.

“Whales purchased approximately one billion XRP in 48 hours!”

At the time of writing, XRP is trading at $2.54, indicating that the whales have amassed $2.54 billion worth of the third-largest altcoin by market capitalization.

Moving on to the popular meme-based asset DOGE, Martinez states that crypto whales have acquired significant amounts of this dog-themed altcoin over a two-day period.

“Whales purchased over 470 million Dogecoin DOGE in 48 hours!”

With DOGE currently trading at $0.338, the whales’ Dogecoin holdings are now valued at $158.86 million.

In total, these high-net-worth investors have accumulated $2.698 billion worth of XRP and DOGE.

Analyzing the charts, Martinez predicts that XRP will experience a substantial price surge in February, highlighting two potential entry points for investors.

“The first entry point is the rising trendline of the pennant, at $2.05. The second entry point is a breakout outside of the pennant, at $2.50. Regardless of your entry, the target price remains $10!”

The crypto strategist further notes that there has been a decline in capital inflows into digital assets over the past 30 days.

“Capital inflows into the crypto market have decreased from $134 billion to $68 billion in the last month, representing a 49% decline.”

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Featured Image: Shutterstock/Olga Medvedeva