XRP Rallies to $2.80 as Whale Activity Reaches Unprecedented Levels
XRP has entered a powerful bullish phase, posting a 26% gain over the past seven days and surging 10% in the last 24 hours, according to real-time data from CoinMarketCap. The rally comes as new on-chain data reveals a record number of XRP whale wallets, signaling growing confidence among large investors.
Santiment data confirms that 2,743 wallets now hold at least 1 million XRP tokens, the highest count ever recorded for the asset.
47.32 Billion XRP Held by Whales Signals Accumulation Trend
In addition to the rise in whale wallet count, the total supply of XRP held by these large investors has climbed to 47.32 billion tokens, a massive portion of the asset’s circulating supply. This indicates not only accumulation, but also long-term conviction in XRP’s potential upside.
“This dual trend is a very positive sign for the fourth-largest crypto asset,” analysts at Santiment said in a report released Friday.
Such accumulation often precedes or accompanies strong price momentum and typically reflects strategic positioning by high-net-worth individuals and institutions.
XRP Breaks Out of 200-Day Range, Wipes Out $31M in Shorts
Following nearly 200 days of price consolidation between $1.90 and $2.90, XRP has finally broken out to the upside. Its current price of $2.80 places it near the upper end of its long-standing range, suggesting that bullish momentum may be accelerating.
Over $31.44 million in XRP short positions were liquidated in the past 24 hours, according to CoinGlass data, confirming the strength of the breakout.
Altcoin Season Confirmed as Bitcoin and Ether Lead Market
XRP’s rally is part of a broader altcoin resurgence, fueled by Bitcoin’s continued climb to new all-time highs. BTC recently reached $117,700, while Ethereum crossed the $2,950 mark, posting a 17.5% gain over the week.
According to Santiment, altcoin season has officially begun. The firm emphasized that as long as Bitcoin remains above $110,000, investors are likely to rotate profits into high-cap altcoins like XRP.
“Metrics confirm that altcoin season has started — and for now, it’s holding strong,” Santiment reported.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.