XRP is making waves again! ๐ 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. ๐ This growing accumulation is catching the attention of both investors and analysts, as XRP continues its bullish trend.
---
๐ Price Surge Backed by Big Wallets
Over the past week, XRPโs price jumped to $2.43, its highest level since late May. ๐ The increase in million-plus XRP wallets is just one wallet shy of the all-time record of 2,743 โ signaling strong conviction among large holders.
---
๐ Key Developments Behind the Scene
Whales accumulating: These top wallets now collectively hold over 47.32 billion XRP, nearly half of the total supply. ๐ฆ
Massive transactions: Ripple recently moved 200 million XRP to an unknown wallet and another 25.5 million XRP made its way to Coinbase. ๐คฏ
Technical signals: XRP has broken above major resistance and key moving averages, with momentum indicators showing bullish strength. ๐
---
๐๏ธ Institutional Fuel
Investor excitement is also being fueled by:
XRP futures ETF launch speculation ๐
Potential spot ETF announcements in July ๐ผ
BNY Mellon partnership as RLUSD custodian ๐
These developments hint at growing institutional interest in Ripple and the XRP ecosystem.
---
๐ What Could Go Wrong?
While sentiment is hot, a few risks remain:
Large wallet movements to exchanges ๐โโ๏ธ๐ธ
Potential rejection near $2.50 resistance ๐ซ
Regulatory news shocks โ๏ธ
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. ๐
---
๐ Final Thoughts
The rise in whale wallets is a strong vote of confidence ๐ณ๏ธ for XRPโs future. Combined with improving technicals and institutional attention, the mid-term outlook appears promising. But with great accumulation comes greater volatility โ so stay informed, and trade wisely. โ๏ธ๐๐
---
#XRPWhales #CryptoNews #RippleUpdate #XRPPrice #CryptoMarket $XRP