**Crypto Whales Capitalizing on Altcoins for November 2023 Profits**
Crypto whales are taking advantage of the market recovery to pursue bigger gains in several altcoins. On-chain analysis highlights three altcoins that have experienced unusually high capital inflows from institutional investors ahead of November 2023. These tokens include Ripple (XRP) and two other top-ranked altcoins. The whales have increased their accumulation of XRP following the legal victories of Ripple over the SEC. Over the past 10 days, whales holding 1 million to 100 million XRP have acquired an additional 80 million coins, leading to an immediate price rebound above $0.60. It remains to be seen if these strategic investors will begin booking profits as the XRP price approaches $0.65.
**Decentraland (MANA) and Hope for Metaverse Revival**
The Metaverse sector faced difficulties as projects like Sandbox (SAND) and Enjin Coin (ENJ) reached all-time lows before November. However, crypto whales have been purchasing large amounts of Decentraland (MANA), sparking optimism for a broader metaverse revival. On November 2, an unusually high number of whale transactions were recorded for MANA, with the chart showing the highest count since June 5. This surge in whale transactions has caused a 48% price rally, reclaiming the important $0.40 level. Investors who bought MANA at its all-time low in September could potentially see historic profits in November.
**Injective (INJ) Attracts Investors with Product Updates**
Injective (INJ) experienced a breakout to a 20-month peak of $12 on October 23 after launching a significant product feature on its decentralized exchange, Helix. Crypto whales have continued to show demand for INJ, dispelling concerns that the initial rally was temporary. Data reveals a consistent flow of whale transactions for INJ for 16 consecutive days, starting from October 18. With the price approaching the $14 range, it seems that whales are aiming for higher profits in November. If they maintain their buying intensity, INJ could break above the historically significant resistance level of $14.20.
**Hot Take: Retail Investors May Mirror Whales’ Trading Pattern**
Given the influence of corporate entities and high-net-worth investors in blockchain networks, some retail investors may choose to follow the recent trading pattern of crypto whales. This includes buying Ripple (XRP), Decentraland (MANA), and Injective (INJ) in anticipation of profits in November 2023.
**Sources:**
– [Ripple (XRP) Whale Balances](https://app.santiment.net/assets/ripple-xrp-whale-balances-515)
– [Decentraland (MANA) Whale Transactions](https://app.santiment.net/assets/decentraland-mana-whale-transactions-516)
– [Injective (INJ) Large Transactions](https://app.santiment.net/assets/injective-inj-large-transactions-october-2023-517)
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