Ripple ($XRP) has made history by achieving a market value of $2.49, marking its highest price since January 8, 2018. This remarkable surge comes after nearly seven years, fueled by intense activity in the cryptocurrency market and major XRP accumulation. Whales and retail investors have collectively contributed to XRP’s meteoric rise. They all showcase significant interest and confidence in the token.
Within just three weeks, wallets holding between 1 million and 10 million XRP have accumulated a staggering 679.1 million tokens. Currently, they have a value of $1.66 billion. This extraordinary accumulation trend reflects a renewed optimism in the long-term potential of Ripple (XRP). Sentiment, an intelligence-based intelligence analytical platform, shared the details through its official media platform, X.
XRP Whales Fuel a Record-Breaking Rally
The dramatic accumulation by large holders has been a key driver behind XRP’s recent price rally. These wallets are often referred to as “whales.” The wallets have accumulated an enormous quantity of Ripple (XRP) in an exceptionally short timeframe. It hints at a strategic move to capitalize on its potential growth.
The growing influence of whales in XRP’s ecosystem strengthens its price movement. It also signals broader adoption within institutional and high-net-worth investor circles. This accumulation coincides with a historic milestone for XRP. It surpasses 5.5 million non-empty wallets for the first time in its eight-year journey. By doing this, XRP underscores increasing interest from retail participants alongside the whales.
A Promising Outlook for Ripple (XRP) Holders
XRP’s price breakout and the significant growth in wallet activity highlight its evolving narrative in the cryptocurrency space. The surge to $2.49 reflects both strategic accumulation and broader market momentum. This surge reinforces its position as a major contender in the crypto market.
The milestone also raises questions about the sustainability of its growth. It also highlights the concern that the continued adoption will further solidify XRP’s role in cross-border payments and decentralized finance. The combination of whale-driven activity and record wallet numbers position Ripple (XRP) for further exploration of new price highs in the coming months