High Roller Spends $5 Billion on ETH, While Ripple's XRP Exhibits Repeated Purchase Indicators

In the ever-evolving world of cryptocurrency, several key players are experiencing shifts in their prices and market positions.

Ripple's XRP, currently trading at $2.79, is just over 25% away from its previous All-Time High (ATH) price of $3.84, according to CoinMarketCap analytics. The TD sequential has flashed back-to-back buy signals on Ripple's XRP, indicating a potential rebound setup, as suggested by a reputed crypto trader and analyst.

Meanwhile, another popular altcoin, Ethereum (ETH), is currently trading in the $4,400 price range. Despite this, ETH set a new ATH in the $4,900 price range last month. However, analysts predict that ETH might not fall as much as Bitcoin during the upcoming correction.

Bitcoin (BTC) currently trades at $110,000, a significant drop from its previous ATH of $124,000 set last month. The September correction is expected to take the price of Bitcoin to the 5-digit range, close to a CME Gap in the $90,000 - $95,000 price range. Analysts remain bullish for the long-term, expecting both BTC and ETH to hit new ATHs after the correction.

Interestingly, traders and investors are accumulating more and more of their favourite market assets during market and price dips. This trend is not limited to Ripple's XRP and Ethereum. A whale has bought $1.1 billion worth of ETH and staked it all, bringing their total purchases to $3.5 billion.

Moreover, BitMine Immersion has invested over $6.6 billion in Ethereum, holding 1,523,373 ETH tokens as part of its strategic goal to acquire 5% of the entire ETH supply. Analysts consider Ethereum potentially weaker than Bitcoin in upcoming correction phases due to its higher volatility and network-specific risks compared to Bitcoin’s established store of value status and stronger market resilience.

In addition, analysts are keeping a close eye on Bitcoin Dominance, expecting Ethereum and altcoin dominance to take over soon. Over $500 million in crypto liquidations occurred in the past 24 hours, highlighting the volatility in the market.

Amidst this correction, a vertical surge in prices is expected for Bitcoin and altcoins after the correction, according to some predictions. Traders and investors are advised to stay informed and make cautious decisions.