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XRP Whales Scoop Up $3.8B, Fueling A 23% Rally, What's Next?

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by Giorgi Kostiuk

a year ago

XRP continues to rise thanks to large holder activity and news of a potential XRP-focused exchange-traded fund.

Price Reaches Multi-Year High

In the last 24 hours, XRP's price spiked 6.31% to $2.73. The intraday high was $2.87, the highest since December 2024. This increase is attributed to significant accumulation by large holders. According to Santiment, these wallets now hold 37% more XRP than two months ago.

Large Transactions and Market Sentiment

Whale Alert reported a major transaction of 30.17 million XRP ($80.6 million) from an unknown wallet to Coinbase. Such movements often suggest potential sell-offs, though the XRP community debates whether this is market-driven or operational. These actions influence market sentiment regardless of their motivation.

XRP Eyes $3 as Record High Approaches

With XRP just 16% down from its all-time high, discussions focus on the potential to reach $3. Trading volume has increased sharply to $14.08 billion, demonstrating high investor interest. The anticipated departure of SEC Chair Gary Gensler is also generating speculation about relaxed regulatory pressure on Ripple.

Analysts and investors continue to monitor the situation around XRP, particularly with large whale activity and potential ETF developments.

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