$XRP Reaches $2.49 with 3-Week Whale Accumulation

Ripple ($XRP) has made history by achieving a market value of $2.49, marking its highest price since January 8, 2018. This remarkable surge comes after nearly seven years, fueled by intense activity in the cryptocurrency market and major $XRP accumulation. Whales and retail investors have collectively contributed to XRP’s meteoric rise. They all showcase significant interest and confidence in the token.

🚀 XRP has skyrocketed to an astounding $2.49 market value for the first time since January 8, 2018. The 6-year (nearly 7-year) high comes as wallets with 1M-10M XRP have accumulated 679.1M tokens (currently worth $1.66B) in just 3 weeks. Also, total non-empty XRP wallets have… pic.twitter.com/bIsfOqdCQX

— Santiment (@santimentfeed) December 2, 2024

Within just three weeks, wallets holding between 1 million and 10 million $XRP have accumulated a staggering 679.1 million tokens. Currently, they have a value of $1.66 billion. This extraordinary accumulation trend reflects a renewed optimism in the long-term potential of Ripple ($XRP). Sentiment, an intelligence-based intelligence analytical platform, shared the details through its official media platform, X.

$XRP Whales Fuel a Record-Breaking Rally

The dramatic accumulation by large holders has been a key driver behind $XRP’s recent price rally. These wallets are often referred to as “whales.” The wallets have accumulated an enormous quantity of Ripple ($XRP) in an exceptionally short timeframe. It hints at a strategic move to capitalize on its potential growth.

The growing influence of whales in XRP’s ecosystem strengthens its price movement. It also signals broader adoption within institutional and high-net-worth investor circles. This accumulation coincides with a historic milestone for $XRP. It surpasses 5.5 million non-empty wallets for the first time in its eight-year journey. By doing this, XRP underscores increasing interest from retail participants alongside the whales.

A Promising Outlook for Ripple ($XRP) Holders

XRP’s price breakout and the significant growth in wallet activity highlight its evolving narrative in the cryptocurrency space. The surge to $2.49 reflects both strategic accumulation and broader market momentum. This surge reinforces its position as a major contender in the crypto market.

The milestone also raises questions about the sustainability of its growth. It also highlights the concern that the continued adoption will further solidify $XRP’s role in cross-border payments and decentralized finance. The combination of whale-driven activity and record wallet numbers position Ripple ($XRP) for further exploration of new price highs in the coming months.

Source