Ripple’s XRP climbed above $1.60 on Tuesday, marking its highest price level since early February, aside from a brief uptick in August. The price movement coincided with an increase in overall network activity.
Data from blockchain analytics firm Santiment recorded 1,917 XRP transactions worth at least $100,000, representing the highest level of large-holder activity in roughly a month. Santiment noted that while the figure points to increased activity among larger holders, the transfers do not clarify whether whales were actively buying or selling.
Additionally, the network added 3,647 new XRP addresses during the tracked period. This increase indicates broader participation, though analytics firms note that new addresses do not automatically represent independent individuals or new investors.
Beyond wallet and whale metrics, the XRP Ledger has continued to expand in tokenized assets and stablecoins. Tokenized assets and RLUSD balances on the network recently reached approximately $4.26 billion, with Ripple reporting about $2.4 billion of RLUSD in circulation.
Institutional interest has also grown within investment products. Bitwise filed an updated registration for an XRP exchange-traded fund with the U.S. Securities and Exchange Commission on September 18, joining several other XRP exchange-traded products already in the market.
Market observers have offered mixed interpretations of the whale data. Some analysts point out that 1,917 large transactions remain relatively modest compared to XRP's market capitalization of about $99 billion. Meanwhile, a 12.6% price rise over seven days further complicates efforts to definitively read the large transfers as accumulation.
