Recent on-chain data reveals that XRP whales have been actively accumulating the cryptocurrency, indicating a potentially bullish trend for its price. Analyst Ali Martinez highlighted a significant increase in XRP whale activity over the past ten days, as shown by the 'Supply Distribution' metric from on-chain analytics firm Santiment. This metric categorizes wallet holders based on their XRP holdings, with whales typically owning between 10 million and 100 million XRP. The recent surge in whale accumulation, totaling 380 million XRP (approximately $223 million), coincided with a price recovery for XRP. This buying spree, particularly evident around the $0.53 price level, suggests that whales viewed XRP as a lucrative investment opportunity. Continued whale accumulation may fuel further price gains, while a reversal in whale activity could signal a bearish turn for the cryptocurrency. As XRP trades around $0.587 at present, monitoring whale behavior remains crucial for predicting future price movements. Read more AI-generated news on: https://app.chaingpt.org/news