Driven by significant purchases from major investors known as 'whales', XRP's position in the cryptocurrency market is increasingly rising. In just a week, these whales accumulated over $526 million in XRP, marking the largest accumulation in nearly three years. The surge in buying activity occurred after XRP's price broke the $1 barrier for the first time since 2021, igniting investor interest and hope.
About 453 million XRP tokens (a large portion of the circulating supply of this asset) have been recently acquired by whales. Cryptocurrency experts say that this level of accumulation usually indicates strong confidence in XRP's future performance. These large players reduce the supply on exchanges while acquiring tokens, thereby increasing demand and price.
It is noteworthy that while large institutional buyers are making substantial purchases, smaller individual traders seem to be selling their holdings. Funds holding less than 1 million XRP reportedly sold a total of 75.7 million shares during this period. Market sentiment has visibly shifted: large buyers are betting on XRP's rise, while smaller traders are more cautious.
Historically, large accumulations by whales have often led to significant volatility in XRP's price. Analysts point out that such configurations have historically brought substantial gains, sometimes exceeding 1,300%.
Currently, XRP has reached a critical support level (which one analyst referred to as 'Channel B'), raising significant concerns as a breakout above this resistance level could lead to a substantial price increase. Market observers suggest that if this trend continues, XRP's price may reach the range of $13 to $15 in the near future. This prediction relies on past performance and current technical signals that indicate a favorable monetary situation.
The current rise in XRP's price corresponds with the overall positive developments in the cryptocurrency space. The imminent approval of XRP exchange-traded funds (ETFs), speculation about regulatory changes, and other factors have sparked a surge in optimism. Recent political developments in the U.S., particularly signs of internal changes within the U.S. Securities and Exchange Commission, have intensified the enthusiasm of XRP fans.
The market capitalization of XRP has significantly increased, enhancing its position in cryptocurrency rankings. Analysts expect that if the current trend continues, XRP may experience more significant growth in the coming months.
With the backing of large investors and historical data, many observers are closely watching the potential rise of this digital asset.