XRP posted a 3.6% price gain over the past 24 hours, bolstered by massive whale accumulation, technical strength, and a renewed surge of retail demand out of South Korea.
The move comes despite lingering caution following Ripple co-founder Chris Larsen’s recent $200 million token transfer.
Whales tighten supply, offseting co-founder’s sell-off
According to U.Today, large holders purchased over $415 million in XRP within a single day, absorbing bearish pressure and consolidating supply.
On-chain data reveals 2,743 wallets now hold over 1 million XRP each, collectively locking up 47.32 billion tokens. This reduction in liquid supply has offered price stability amid volatility fears.
The accumulation followed Larsen’s sell-off and appears to reflect increased institutional and whale confidence in XRP’s long-term positioning, especially as U.S. regulatory concerns ease.
Technicals suggest bullish setup forming
On the technical side, XRP continues to hold above the crucial $3.10 pivot, showing resilience even after being rejected at the $3.28 Fibonacci resistance. The RSI sits at 60.39, leaning neutral-to-bullish, while the MACD is nearing a bullish crossover. Analysts are watching closely for a golden cross between the 9-day and 26-day moving averages—a signal that could open the door toward a move to $3.34 and beyond.
South Korean FOMO intensifies XRP surge
Trading activity on Korean exchanges has spiked significantly. Upbit’s XRP/KRW pair alone accounted for 14% of the platform’s $3.2 billion daily volume, according to Coincu. This signals strong retail interest and FOMO (fear of missing out) among South Korean investors.
With the Altcoin Season Index up 115% in 30 days, XRP’s outperformance highlights the asset’s unique positioning as a regulatory rebound and technical breakout candidate.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/xrp-price-climbs-3-6-in-past-hours-2-key-forces-behind-the-surge/