- Over 640 million XRP were transferred in 24 hours, signaling strong market recovery and renewed momentum.
- Whale wallets have increased holdings significantly, with top-tier accounts now controlling over 15 billion tokens.
XRP whales have made significant moves again after transferring 640 million tokens within the last 24 hours. This move signaled a powerful recovery in market activity.
This recent market move shows that the token is regaining its momentum. The coin is now trading and holding its position above $2.30, which is a solid base for the token after it fell by 12% from its recent peak close to $2.70.
XRP Whale Accumulation Grows
Whales have continued to add XRP to their portfolio as several key events unfold. Recently it was heard that Ripple Labs is in an ongoing negotiation to buy Circle. Circle is the company behind the USD Coin, often known as USDC. If the deal goes through, it would give Ripple a strong edge and make it the second largest in the stablecoin industry and the third most profitable crypto firm after Tether and Tron.
The jump in XRP use shows its growing trust and wider adoption. Ripple is strategically expanding globally, with its team recently teaming up with Zand Bank and Mamo in the UAE. These moves are part of its plan to compete with SWIFT, which processes over $150 trillion each year.
XRP Technical Analysis
The token price is trading above its 26-day EMA around $2.32; this position is a level that has previously acted as its support or resistance. The price has touched this point several times and is now stable.
source: Tradingview
The XRP price has also formed an inverse head and shoulders pattern, with a neckline set at $2.5812. Data from Santiment shows that large wallets with 1 to 10 million XRP now hold over 6 billion tokens, while those with 100 million to 1 billion have grown their share from 8.16 billion
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