XRP whales are making moves in the market as the altcoin experiences a surge in performance. In the past 24 hours, XRP has outperformed other large market-cap cryptocurrencies, attracting attention from investors and traders. This increase in bullish sentiment towards XRP can be attributed to a rise in whale activity. Large wallets holding XRP tokens have been accumulating more of the cryptocurrency, as indicated by on-chain and exchange data.
The XRP ecosystem not only includes Ripple but also various other whales whose actions can influence the sentiment surrounding the cryptocurrency. Recent on-chain data has revealed significant XRP transactions occurring between wallets and exchanges. These massive transactions are important to watch as they can impact the buying and selling pressure in the market.
In the last 24 hours, there has been an increase in large transactions involving XRP, suggesting that whales are actively accumulating tokens. Whale Alerts, a crypto tracking service, reported two transfers totaling over 48 million XRP from Binance to unknown wallets. Additionally, data from Santiment shows a notable increase in the number of addresses holding between 100,000 and 1 million XRP, indicating growing whale accumulation.
The surge in whale accumulation has pushed the total number of XRP tokens held by large addresses to an all-time high of 51.29 billion. This increase in ownership by whales and large holders has contributed to XRP’s current price of $0.6136, marking a 13% rise in the past 24 hours and a 34% increase in the past seven days. Interest in XRP is at its peak in four months, suggesting that the altcoin may continue to climb in value.
As XRP hovers around $0.6136, investors and traders are closely monitoring the market to see if the cryptocurrency can break above resistance levels. With whale accumulation driving up interest and prices, XRP’s performance in the coming days will be crucial in determining its future trajectory. The altcoin’s resilience in the face of market volatility and its ability to outshine other cryptocurrencies have positioned it as a top contender for investors seeking high returns.
