Crypto commentator Mickle argued this week that large XRP holders are accumulating while retail wallets are cutting exposure, citing Santiment data showing wallets holding between 100,000 and 100 million XRP grew their balances by 2.8% over five weeks. The smallest wallets, meanwhile, trimmed their XRP positions by 5.2% over the same period.
Mickle framed the divergence as a textbook late-bear signal: retail sells after failed rallies, while experienced money quietly loads up during sideways price action. The analyst also pointed to institutional moves, citing Franklin Templeton clients buying $5.66 million in XRP and Fidelity picking up roughly $23 million in Bitcoin, though the video did not include independently verified transaction records for either purchase.
Bitcoin's 200-Week SMA and the Accumulation Thesis
A central piece of the argument rested on Bitcoin briefly dipping below its 200-week simple moving average near $59,000. Historically, stretches below that indicator have coincided with long-term entry points during prior bear cycles, and Mickle used it to support the broader case that the market is closer to a bottom than a top.
XRP's current range-bound trading was described as an "accumulation zone" following its drop from above $3. The host compared the setup to a previous period when XRP moved sideways for roughly a year and a half before rallying. Firms including BlackRock and Grayscale were also mentioned as evidence that institutional interest in the asset class goes beyond short-term price speculation. Ripple itself has been active on the institutional front, recently taking a strategic stake in compliance platform Notabene.
XLM was grouped alongside XRP and Bitcoin as another asset where large holders appear to be adding exposure during the weakness.
This article is for informational purposes only and does not constitute financial advice. Crypto markets carry significant risk; always do your own research before making investment decisions.
