XRP whales quietly increase holdings, price expected to break through

XRP bought up $915 million in a week

In just one week, XRP whales purchased over 420 million tokens worth over $915 million, indicating strong investor confidence in XRP. However, the number of new wallets created has dropped to the lowest level in two months, suggesting that while whales are actively buying, retail investors remain cautious.

Recently, the price of XRP surged by 6% to $2.23, with trading volumes exceeding $108 million within an hour. Whales have been active during the uptrend. With strong buying support, the price of XRP remains stable.

On-chain data shows that in the past two weeks, whales have been actively transferring XRP. On June 18, Ripple transferred 200 million XRP (approximately $439 million) to an unknown wallet, possibly for institutional use or strategic purposes.

Meanwhile, on June 12, June 15, and June 19, three large transactions totaling over 80 million XRP (worth approximately $175 million) were sent from unknown wallets to Coinbase, which are likely whales preparing to sell or take profits.

Previously, 230 million XRP was transferred from Ripple to an unknown wallet, and another 50 million XRP was transferred between two unknown wallets. These large transfers indicate an increase in XRP trading activity.

Although XRP trading may be sideways, these transactions suggest that whales are quietly accumulating. The number of wallets holding over 1 million XRP has also reached a historic high of 2,850.

Recently, the number of daily active addresses for XRP has also surged by 442.7%, reaching 181,000 in just 24 hours. This increase indicates that user interest and actual network activity are continuously rising.

XRP is currently trading at $2.18, up 3.6% in the past 24 hours. Over the past week, the price increased by 2.7%, rebounding after dipping below $2.00 earlier this week. The recent rebound and increase in trading volume indicate that buyers are entering the market. However, for a significant breakout, XRP must hold above $2.20. If it falls below, the price may revisit the support level of $2.05-$2.10. With the potential conclusion of the SEC lawsuit and the possibility of a spot XRP ETF being approved, the future looks promising.