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**2.2 Billion XRP In Two Weeks. Here’s What Happened**
In a stunning turn of events, the price of Ripple’s native cryptocurrency, XRP, has surged past the $3 mark once again, currently trading at $3.26 with a 10.83% gain in the last 24 hours and an astonishing 33.91% increase over the past week.
But what’s behind this explosive price movement? According to renowned crypto analyst Ali, it’s not just a fleeting spike – it’s fueled by a massive wave of accumulation from large investors.
Recent on-chain data reveals that wallets holding between 100 million and 1 billion XRP have significantly increased their balances in July. This trend is a clear indication of strategic accumulation by institutional players and high-net-worth individuals, solidifying the narrative that XRP is no longer just a speculative investment but a viable store of value.
The sheer scale of this whale activity has led to an unprecedented 2.2 billion XRP being purchased in just two weeks. This jaw-dropping figure underscores renewed confidence from institutional investors and high-net-worth individuals in XRP’s long-term potential, setting the stage for a potentially historic rally.
In fact, the number of wallets holding at least 1 million XRP has climbed to an unprecedented 2,743, now controlling more than 47.3 billion XRP. Whale Alert and other blockchain trackers have confirmed large transfers throughout this accumulation phase, further validating this trend.
The token’s ability to maintain levels above $3 is not only a testament to its technical strength but also reflects the broader market conviction in XRP’s potential.
Additionally, open interest in XRP perpetual futures has surged to an astonishing $9.25 billion, nearly triple its April levels, further solidifying institutional activity. The launch of ProShares Ultra XRP ETF (UXPR) is also making it easier for traditional investors to gain leveraged exposure to XRP through regulated channels.
The convergence of retail interest, institutional demand, and derivatives growth is reinforcing bullish momentum, ultimately expanding the token’s investor base.
This surge in price is not only a result of whale accumulation but also fueled by Ripple’s continued efforts to strengthen its ecosystem. The company has recently partnered with the Dubai Land Department to tokenize real estate on the XRP Ledger, further solidifying its presence in global finance and driving up demand for the asset.
The article concludes that XRP’s recent rally is no fleeting spike – it’s grounded in deep whale accumulation, strong technical signals, and expanding institutional involvement. As the token surpasses previous highs, it may be poised to challenge its all-time high and potentially break out to new heights in the near future.
Disclaimer: This content is meant to inform and should not be considered financial advice.
Source: timestabloid.com
