[LIVE] Crypto News Today – Next Crypto To Explode? Crypto Market Is Down But Whales Keep Accumulating ETH As XRP Price Retests Support Level

Another day, another Trump’s new tariffs plan. The market is tired and it didn’t react to the news positively. U.S. President Donald Trump has signed an executive order reimposing ‘reciprocal tariffs’ of 10% to 41% on imports from 69 countries, along with higher duties on certain Canadian goods over drug-smuggling concerns. Canada’s tariffs take effect on August 1, with others following on August 7. Overall, the market is still holding up well, with major altcoins retesting key support levels. It could be interesting to identify what might be the next crypto to explode once the dust settles.

The tariff news hit just as global risk assets tumbled. Over $570 million in crypto long positions were liquidated in 24 hours, with Ethereum and Bitcoin taking the biggest blows. Fear of higher inflation and tighter trade flows drove a broad sell-off. Still, seasoned investors are looking past the headlines, scanning on-chain data for signs of a rebound.

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Next Crypto to Explode? Whales Accumulate ETH as XRP Retests Support

While spot prices slipped, whale wallets quietly scooped up more Ether. In the last week, 12 new large holders added roughly 790,000 ETH (about $2.9 billion) to their balances. Two of those fresh wallets alone bought 68,300 ETH ($252 million) just eight hours ago. This steady accumulation suggests big players see value in holding ETH through short-term turbulence.

Whales keep accumulating $ETH!

2 fresh wallets accumulated another 68,297 $ETH($252M) 8 hours ago.

Since July 9, a total of 12 fresh wallets have accumulated 790,449 $ETH($2.92B). pic.twitter.com/hcNiJTN9xz

— Lookonchain (@lookonchain) August 1, 2025

At the same time, XRP price is retesting a key support zone around $2.95. After peaking near $3.66, XRP has pulled back to this horizontal level first tested in March and May. If buyers defend $2.95, XRP could rally back toward $3.20 or higher. But a break below might send price down to the next floor near $2.65.

Between the tariff-driven dump and aggressive ETH buying, traders are split on which asset is truly set to explode next. Bulls point to whale activity and XRP’s support bounce as a recipe for a fast rebound. Skeptical traders warn that macro uncertainty and ongoing liquidations could keep pressure on prices.

For now, keep an eye on on-chain flows and chart levels. If ETH accumulation continues and XRP holds above $2.95, these could be the ingredients that spark the next crypto to explode once the market finds its footing.

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The post [LIVE] Crypto News Today – Next Crypto To Explode? Crypto Market Is Down But Whales Keep Accumulating ETH As XRP Price Retests Support Level appeared first on 99Bitcoins.

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