XRP's price surged by 26% in the last week, hitting $2.80. This is attributed to significant accumulation by large investors and overall market sentiment.
Whale Accumulation
According to on-chain data, the number of wallets holding more than 1 million XRP has reached a record of 2,743. These whales control a total of 47.3 billion XRP, indicating increased confidence among major holders.
Short Squeeze
In the past 24 hours, nearly $31.4 million in short positions were liquidated. This squeeze added extra momentum to the token's price, which now has an open interest of $7.2 billion, the highest in six months.
Future Prospects
In the near term, if XRP holds above $2.60–$2.65, analysts see a move to $3 as achievable by August. Additionally, potential ETF approval could drive further growth, potentially reaching $3.50-$4 by Q4 2025.
Currently, XRP is showing significant growth driven by institutional investments and ETF speculation. The upcoming months could be crucial for the price dynamics of the token.
