XRP Bullish Sentiment Soars as Whale Activity Doubles

Investors are feeling optimistic about XRP, the seventh-largest cryptocurrency, despite a recent uptick in whale transactions.

The number of large transactions (over $100,000) involving XRP surged by 92% in the last 24 hours, according to Santiment.

This increase coincides with a 65% rise in positive sentiment around XRP, suggesting investors are anticipating a price hike.

XRP Accumulation May Be Ending

Data from crypto.news shows investors began accumulating XRP on July 2nd, when the price was around $0.478.

Santiment's market intelligence indicates this accumulation trend might be nearing its end as exchange activity picks up.

The number of XRP tokens flowing into exchanges has risen significantly, potentially signaling short-term profit-taking by some holders.

XRP RSI Suggests Potential Price Correction

The Relative Strength Index (RSI) for XRP is currently at 67, indicating the asset is slightly overbought.

This could lead to a price correction in the near future.

Current XRP Price and Market Status

XRP is up 2.8% in the past day, trading at $0.544.

The market capitalization sits at $30.3 billion with a daily trading volume of $2.2 billion.

XRP even reached a three-month high of $0.568 earlier today.