A closely followed analyst states that affluent investors are significantly increasing their holdings in two large-cap altcoins as the cryptocurrency market experiences a sudden surge in volatility. Trader Ali Martinez informs his 129,500 followers on the social media platform X that crypto whales acquired approximately $2.16 billion worth of the payments altcoin XRP in just one day.

“Whales bought nearly one billion XRP in [24 hours!]”


Source: Ali Martinez/X
At the time of writing, XRP is trading at $2.41.
Turning to the layer-1 protocol Cardano, the trader reveals that wealthy investors accumulated over $345 million worth of ADA during the same time frame.

“The largest whales on the Cardano ADA network have bought 420 million ADA in [24 hours!]”


Source: Ali Martinez/X
In total, crypto whales amassed $2.51 billion worth of XRP and ADA in just one day.
At the time of writing, ADA is trading at $0.86.
Examining the charts, Martinez warns that XRP appears to be forming a head-and-shoulders pattern, a bearish reversal structure that may suggest the uptrend is over once the asset falls below the pattern’s neckline.

“XRP could invalidate this head-and-shoulders pattern with a daily close above $3, potentially paving the way for a rally to $5!”


Source: Ali Martinez/X
Based on the trader’s chart, he seems to predict that XRP will plummet to $1.20 if it breaches the pattern’s neckline at $2.
As for Cardano, the crypto strategist mentions that she sees ADA igniting rallies if it surpasses a key resistance area.

“Cardano ADA could be poised for a rally to $2.20! Watch for a 12-hour candlestick close above $1.19 to confirm the bullish breakout.”


Source: Ali Martinez/X

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