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Massive Ripple Whale Accumulation Fuels XRP Surge Toward New ATHs
The cryptocurrency market has witnessed a significant surge in the price of Ripple (XRP) over the past week, with the asset climbing 8% within the last 24 hours and an astonishing 29% within the past seven days. This meteoric rise can be attributed to an extraordinary accumulation by large investors or “whales,” which has sparked speculation about a potential new all-time high.
According to reliable sources, including renowned analyst Ali Martinez, these whales have collectively purchased a staggering 2.2 billion XRP in the span of two weeks. This unprecedented buying pressure has pushed the asset’s price above $3.00 and is fueling widespread excitement within the crypto community.
Notably, blockchain monitoring services have tracked several significant whale transactions during this period. Whale Alert reported a transaction involving 25.5 million XRP, worth approximately $73.6 million at today’s prices, moving to Coinbase. Simultaneously, on-chain data revealed a 33 million XRP transfer from Upbit to an unknown wallet, along with another 40 million coins being transferred between unidentified addresses.
While some market experts are cautious about the asset’s prospects due to its proximity to previous all-time highs, others believe that this accumulation indicates significant potential for further growth. Ali Martinez has weighed in on the current situation, stating that a weekly close above $3 could propel XRP toward $4.80.
Source: cryptopotato.com
