XRP is making waves again! 🌊 According to fresh data from Santiment, 2,742 wallets now hold at least 1 million XRP each, marking a 7-week high in whale activity. 🐋 This growing accumulation is catching the attention of both investors and analysts, as XRP continues its bullish trend.
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🚀 Price Surge Backed by Big Wallets
Over the past week, XRP’s price jumped to $2.43, its highest level since late May. 📆 The increase in million-plus XRP wallets is just one wallet shy of the all-time record of 2,743 — signaling strong conviction among large holders.
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🔎 Key Developments Behind the Scene
Whales accumulating: These top wallets now collectively hold over 47.32 billion XRP, nearly half of the total supply. 🏦
Massive transactions: Ripple recently moved 200 million XRP to an unknown wallet and another 25.5 million XRP made its way to Coinbase. 🤯
Technical signals: XRP has broken above major resistance and key moving averages, with momentum indicators showing bullish strength. 📊
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🏛️ Institutional Fuel
Investor excitement is also being fueled by:
XRP futures ETF launch speculation 🔄
Potential spot ETF announcements in July 💼
BNY Mellon partnership as RLUSD custodian 🔐
These developments hint at growing institutional interest in Ripple and the XRP ecosystem.
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📉 What Could Go Wrong?
While sentiment is hot, a few risks remain:
Large wallet movements to exchanges 🏃♂️💸
Potential rejection near $2.50 resistance 🚫
Regulatory news shocks ⚖️
So, traders should keep a close watch on support levels near $2.30 and $2.21, where a pullback could lead to short-term corrections. 🔍
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📌 Final Thoughts
The rise in whale wallets is a strong vote of confidence 🗳️ for XRP’s future. Combined with improving technicals and institutional attention, the mid-term outlook appears promising. But with great accumulation comes greater volatility — so stay informed, and trade wisely. ⚖️📉📈
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