XRP has failed to retest its all-time high (ATH) of $3.84 over the last 30 days. Since early February, the cryptocurrency’s price has remained below $3. However, large investors, known as whales, have actively increased their holdings.
Ali Martinez, a well-known market analyst, recently reported that XRP whales purchased 150 million coins in the last 48 hours. This massive accumulation suggests that whales remain confident in XRP’s future performance. Since whale activity often influences market trends, many retail investors closely track these transactions to gauge potential price movements.
Whale Demand Could Drive a Market Shift
Analysts believe that if the current whale accumulation trend continues, it could significantly impact market sentiment. A sustained increase in demand could lead to a price surge. However, the market’s reaction will largely depend on whether whales plan to hold onto their XRP or sell in the short term.
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If whales commit to long-term holding, more investors might follow their lead. As a result, the market could experience heightened interest and increased buying pressure, potentially pushing XRP’s price higher. Many traders will continue monitoring whale movements to determine the next major trend.
XRP ETF Filing Sparks Additional Interest
Beyond whale activity, another factor driving market attention is the potential approval of an XRP exchange-traded fund (ETF). Several asset managers have submitted filings to the U.S. Securities and Exchange Commission (SEC), and investors are keenly watching for regulatory developments. Approval of an ETF could boost institutional interest and positively affect XRP’s price.
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XRP’s trading volume has increased by 5.66%, reaching $5.06 billion. Over the last 24 hours, its price has risen by 1.01%, currently trading at $2.60. Many investors have responded to the whale accumulation by purchasing more XRP, contributing to a price increase. The coin climbed from a low of $2.47 to its present value, adding 13 cents in the process.
If whale accumulation continues and investors remain bullish, XRP could experience further gains in the coming days. Traders will closely watch both whale activity and regulatory updates to assess the cryptocurrency’s next move.
