XRP recently experienced a significant price rally, reaching $1.30 for the first time in months after gaining 30% from its recent lows. The upward movement followed a broader market rally led by Bitcoin.
Whale Activity Drives the Surge
Data indicates that large market participants, or whales, have been the primary drivers of the recent price action. According to market observer Vincent Van Code, 53% of sizeable buy orders came from large players, while medium traders accounted for 35% and small investors made up just 12%. This distribution suggests that retail investors are not the primary force behind the rally.
Reports show that whales accumulated more than 300 million tokens over a 96-hour period, following an earlier acquisition of 72 million coins in a single day. Meanwhile, spot XRP ETFs recorded inflows for three consecutive days, though these inflows remained modest compared to levels seen in November and December of the previous year.
Analyst Outlook
The recent price movement has prompted various market projections from analysts. Crypto Patel pointed to historical price movements, suggesting that previous accumulation phases have preceded substantial gains. Other analysts, including Mikybull Crypto and CW, noted that the asset has broken through major resistance levels and ended a prolonged downtrend, signaling the start of an uptrend.
