XRP's trading volume suddenly surged, with a 54.05% increase surprising the market, and total trading volume broke through $5.76 billion in just one day. This wave of growth didn't stop there; XRP's derivatives trading volume also rose by 51%, reaching nearly $8 billion, raising the question: what exactly happened?
Whales Continue to Accumulate, XRP Bullish Sentiment Heats Up
According to the latest data, large XRP holders (also known as 'whales') are in a state of active accumulation. Specifically, the number of addresses holding between 10 million and 100 million XRP has significantly increased, indicating that these high-net-worth investors have a bullish sentiment towards XRP that continues to heat up. This concentrated buying behavior usually suggests that large market players are preparing for future price increases, intensifying the investment enthusiasm for XRP.
Meanwhile, Whale Alert also monitored a significant fund transfer event—over $100 million of XRP was transferred from an unknown wallet to the Bybit exchange. This action undoubtedly intensified market attention on XRP's future trends, especially against the backdrop of its historic hacking incident.
Bybit Experiences the Largest Hacking Incident in History!
Just as XRP's trading volume surged, the Bybit exchange suffered the largest hacking attack in history, with losses amounting to $1.4 billion, including a large amount of Ethereum (ETH) and other tokens. This attack quickly attracted widespread market attention. Blockchain intelligence firm Arkham pointed out that this attack is related to the North Korean hacker group Lazarus, and analyst ZackXBT also publicly disclosed relevant evidence, further confirming this conclusion.
Although the attack caused significant capital loss, Bybit quickly restored withdrawal services and ensured the stable operation of the platform. Bybit committed to processing all withdrawal requests within 12 hours after the crisis occurred, stating that all platform functions were still operating normally. This also brought some confidence back to the market.
Market Sentiment: Can XRP Take This Opportunity to Bounce Back?
Although the market was shaken by the Bybit hacking incident, XRP's trading volume explosion remains a highlight worth noting. Investors are focusing their attention on XRP's future trends, especially in the context of significant accumulation by 'whales'. Will XRP see a strong rebound?
From the current market reaction, XRP seems to be experiencing a critical turning point. If the bullish sentiment of these high-net-worth investors continues, XRP may welcome a rapid rise in the near future.
Can XRP's Future Break Through the Bottleneck?
Despite market volatility due to the Bybit hacking incident, XRP's trading volume explosion and the continuous accumulation by whales undoubtedly bring new momentum to its future trends. Whether XRP can break through the current bottleneck and achieve a price rebound remains a focus of investor attention.
