Whendi

XRP recently experienced a sharp price drop during widespread crypto market liquidations, falling below $3 to touch $2.655. 

However, the cryptocurrency quickly bounced back, surging by 17% to reclaim $3.10. This recovery occurred amidst broader market disruptions caused by the launch of DeepSeek, a ChatGPT rival in China, which affected global markets, including cryptocurrencies.

Whale Wallets Accumulate 120 Million XRP During Dip

During the market downturn, XRP saw notable buying activity from large whale wallets. Analyst Ali Martinez reported that wallets holding between 10 million and 1 billion XRP collectively acquired approximately 120 million coins during the dip. 

This accumulation raised their combined holdings to 10.41 billion XRP, valued at $360 million.

Source: X

The active buying from whales coincided with XRP’s rebound, suggesting their intervention helped stabilize the asset. Such behavior is often viewed as a bullish signal, as it indicates confidence from large holders in XRP’s potential future performance.

XRP Price Performance and Current Market Metrics

As of press time, XRP was trading at $3.17 with a 24-hour trading volume of $9.7 billion. This represents a 9.14% increase in the past 24 hours and a 1.60% gain over the past seven days. 

XRP’s circulating supply remains at 58 billion coins, giving it a market capitalization of $183.2 billion.

Despite its recent recovery, XRP remains down significantly from its earlier highs, as it continues to face challenges from broader market conditions. However, its rebound suggests growing momentum, particularly with support from institutional-level wallets.

Bullish Signals in XRP Dominance

Crypto analyst GRAG CRYPTO highlighted key bullish signals in XRP’s dominance metrics. According to the analysis, several technical indicators suggest potential upward momentum. 

XRP dominance is now above critical levels, including the Williams Alligator moving averages and the 21-day exponential moving average.

Source: X

Additionally, the ABC corrective waves appear to be complete, and the asset has closed above the Fibonacci 0.888 level. These indicators point toward a possible positive trend for XRP in the near term. The analyst noted, 

“Price action is king in trading, but dominance in the crypto space may be the most significant indicator of what comes next.”

Ripple CEO Advocates for Collaboration in the Crypto Industry

Ripple CEO Brad Garlinghouse recently addressed the crypto community, calling for unity over division. In a post on X (formerly Twitter), he urged industry participants to avoid maximalism and focus on shared goals.

Garlinghouse emphasized the need for a multichain approach, stating, 

“If a govt digital asset reserve is created – I believe it should be representative of the industry, not just one token (whether it be BTC, XRP, or anything else).” 

His comments reflect a push for collaboration and inclusivity to drive broader adoption and progress in the digital asset space.

FAQs:

What caused XRP’s recent rebound?

Whale accumulation and bullish dominance indicators drove XRP’s 17% price recovery.

How much XRP did whales acquire during the dip?

Whale wallets accumulated 120 million XRP, worth $360 million, during the dip.

What is XRP’s current price and market cap?

XRP is trading at $3.17 with a market cap of $183.2 billion.

The post XRP News: Price Surges 17% as Whales Buy 120M Coins Amid Bullish Signals appeared first on Coinfomania.