XRP’s recent price correction has sparked a frenzy among large-scale investors, with whales seizing the opportunity to accumulate massive amounts of the token.
On December 11, renowned crypto and on-chain analyst Ali Martinez revealed that XRP whales had purchased over 100 million tokens during the dip, demonstrating clear confidence in the asset’s long-term potential.
“In the recent dip, whales bought over 100 million $XRP!” Martinez noted, highlighting how major investors stepped in just as retail traders were selling off.
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XRP’s price, which briefly dipped below $2 to touch $1.92, has since rebounded to $2.38, reflecting a 7.20% increase within the last 24 hours. The token’s market cap currently stands at $136.22 billion, with a 24-hour trading volume of $24.11 billion, up 13.54%.
Massive XRP whale activity
Blockchain data underscores this significant whale activity, according to Whale Alert, Ripple transferred a staggering 200 million XRP—worth approximately $463 million—to an unknown wallet, further fueling speculation about strategic accumulation.
Data from CryptoQuant also confirms that whales have moved 2.66 billion XRP to Binance in the past 30 days, with the surge in whale activity the largest since April 2024, when a similar volume of 2.8 billion XRP was transferred to exchanges.
The rapid buy-up of XRP following the recent sell-off reflects bullish sentiment among institutional investors and large holders. It suggests that major players are positioning themselves ahead of anticipated developments, such as a potential Ripple IPO and the launch of a Ripple-backed stablecoin.
Catalysts driving XRP’s momentum
Several factors are contributing to this surge in interest. XRP’s recent legal clarity—thanks to a landmark ruling that declared it not a security—has removed a significant regulatory cloud hanging over Ripple.
Additionally, with the likelihood of a more crypto-friendly U.S. administration taking office, market optimism for assets like XRP is surging.
While whale accumulation and favorable macro conditions paint a bullish picture, XRP’s price remains volatile. The token is currently trading above the critical $2.23 support level, with a psychological resistance level at $3 in sight, should XRP manage to break past $2.94.
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