XRP surges to $2.49 as whale accumulation and wallet growth fuel the rally, with 679M tokens added in three weeks.
Retail investors join the XRP frenzy, with 119K new wallets created since November, boosting market confidence.
XRP's price reaches $5.52, driven by strong whale activity and increasing adoption, signaling bullish market sentiment.
XRP's price reached $2.49 becoming the highest level since January 2018. Crypto market intelligent platform Santiment reveals on X post accumulation by wallets holding between 1 million and 10 million XRP, with 679.1 million tokens added in just three weeks. This accumulation, which is now worth $1.66 billion, happened at the same time that the price of XRP rose. Furthermore, for the first time in the coin's eight-year history, there are more than 5.5 million non-empty XRP wallets.
Whale Accumulation Fuels Rally
Notably, Early in November, while it was trading at about $2.30, the price of XRP began to climb. Larger holders have since aggressively accumulated XRP, a sign of a bull market. These wallets, often linked to whales and smaller retail investors, have historically influenced price movements. By December 2, 2024, XRP's value reached an astounding $5.52, supported by substantial wallet activity.
Source: Santiment
Besides accumulation, smaller investors also drove the wallet count increase. Between November 9 and December 2, 119,820 new wallets became active. This reflects growing interest from retail participants, contributing to the bullish momentum.
Retail Investors Join the XRP Frenzy
Additionally, XRP’s adoption has expanded, as seen in the increase of non-empty wallets. This surge in wallets highlights rising confidence in XRP’s future prospects. Moreover, the sharp rise in holdings suggests a market-wide shift toward the asset.
However, the rapid accumulation and price increase suggest the market could be nearing a critical turning point. With increased participation from whales and retail investors, XRP’s trajectory may hinge on sustained demand. Consequently, XRP's performance over the past month stands out as one of its strongest in years. The ongoing accumulation and wallet growth show robust investor sentiment.
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