Recent data from Santiment has revealed that XRP whales have been active, acquiring over 100 million tokens within the last 48 hours. This substantial accumulation has amplified attention toward XRP, which has been displaying notable price movements in recent days.
Latest Price Action Amid XRP Whale Activity
At present, XRP price is trading around $3.24, reflecting an increase of 3.34% compared to its previous close. The crypto experienced a high of $3.33 and a low of $2.90 within the day, highlighting its volatility. Notably, on January 15, 2025, XRP surged to $3.02, driven by optimism surrounding Ripple’s ongoing legal situation with the U.S. Securities and Exchange Commission (SEC).
Whales bought over 100 million $XRP in the last 48 hours, as shown by data from @santimentfeed! pic.twitter.com/TVdqt65Nu4
— Ali (@ali_charts) January 20, 2025
Ripple’s legal journey has been a critical factor influencing XRP’s market sentiment. In July 2023, a court decision ruled that XRP is not a security when sold to retail investors, providing a significant boost to market confidence. Discussions about potential changes in SEC leadership have sparked speculation that Ripple’s case could be dismissed, further fueling positive sentiment around XRP.
Technical Analysis Signals Bullish Trends
From a technical perspective, XRP price appears to be in a strong position. Analytical tools and indicators are signaling a bullish trend, with platforms like TradingView reflecting strong buy recommendations. Metrics such as moving averages and oscillators support the positive outlook, suggesting favorable conditions for XRP traders and investors.
XRP continues to maintain its rank as the third-largest digital asset by market capitalization, following Bitcoin and Ethereum. This status underlines XRP’s significant presence and influence within the crypto market.
Analysts have identified potential price targets for XRP based on technical patterns. Fibonacci extensions indicate a possible climb to around $4.40, a level that has attracted considerable attention. While these projections are optimistic, market participants remain watchful of broader industry developments and any news that could impact XRP’s trajectory.
The combination of increased XRP whale activity, Ripple’s legal developments, and technical strength has positioned the crypto as a focal point in the market. These factors continue to influence its performance, keeping the token under close observation.
Also Read: XRP Breaks 7-Year Record: Experts Eye $10 Price Target
Source: https://www.cryptonewsz.com/xrp-whales-buy-over-100m-tokens-new-ath-soon/