XRP price experienced a notable price increase, trading at $3.18 after a 9.38% gain over the past 24 hours. This rally indicated XRP’s first jump to these levels since December 2024. It shows that there is high demand in the market and bulls are active.
The surge comes with whale sightings, including a transaction of 100,000,000 XRP equal to $265,47 million, making investors guess.
It boasts a market capitalization of $154.1 billion, a 9.39% rise. The price momentum is buoyed by the ramp up in accumulation from large holders and increased confidence in the future of XRP.
Large Whale Transfers Raise Market Speculation
According to the Whale Alert, there was a transfer of 100,000,000 XRP from two unidentified wallets with a value of more than $265 million. One possible reason traders move funds to exchanges is to signal their intention to sell.
On the other hand, such transactions as from exchange accounts to private wallets can represent long-term storage or cold storage for security reasons.
XRP Price Market Metrics Show Increase in Activity
Ripple’s XRP is currently trading with considerable buying pressure, and various on-chain indicators back this up.
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The cryptocurrency’s 24-hour trading volume is $8.76 billion, but this has reduced by 9.86% as compared to the previous day. This points to less trading in the near term even with the rally, a sign that may suggest more demand from the long-term investors.
According to the latest data 57.49 billion XRP tokens are currently in circulation, which makes up more than half of the token’s total supply. According to data, the top 1 million to 10 million XRP wallets are using the tokens at a 37% higher rate than in November 2024.
The cryptocurrency is trading at a critical resistance level as well as support level that are likely to determine its further direction. The first level of pullback is at $2.70 the break of which will determine the possibility of further upward movement. On the flip side, support is at $2.55, a price level that had earlier rejected the price and is now supporting the upward move.
Whale accumulation and Other Market Developments
Whales also played a significant role in increasing the price of XRP in the last few months with big purchases of tokens totaling to about $3.8 billion since the end of 2024.
This rising accumulation trend is a positive signal of bullishness especially from the high net worth investors and institutions. Such activity usually reflects a long term bullish view of the asset’s price.
In a different development, Ripple has become the latest company to extend help for the families that were affected by California’s wildfire by donating a sum of $100,000 in XRP.
The support, empowered by The Giving Block, will help the non-profits namely World Central Kitchen (WCK) and GiveDirectly to deliver services on the ground.
