XRP price has risen 10% in the past 24 hours and 26% in the week to trade at $2.91. This strong price rally comes as the number of crypto wallets holding at least 1 million XRP has reached a new all-time high of 2,743, according to on-chain analytics firm Santiment.
The number of XRP whales is not only growing but so is their possession. Whale wallets currently possess a humongous 47.32 billion XRP tokens, an indication of increasing confidence in the fourth-largest cryptocurrency by market cap.
Santiment described this trend as a strong bullish signal. “XRP is showing signs of strength,” the platform noted. “This dual trend of rising whale numbers and holdings is a very positive sign.”
Just a month ago, XRP had been stuck in a long 200-day consolidation phase, fluctuating between $1.90 and $2.90. But the breakout came as part of a larger crypto market rally. Bitcoin recently soared to new all-time highs, reaching $116,500, while Ethereum jumped over 17% this week to nearly $2,960.
Bearish traders also incurred huge losses as a result of the market momentum. CoinGlass data shows that $31.44 million worth of XRP short positions were liquidated during the recent price surge.
Santiment added that this is clear evidence that altcoin season has begun. As long as Bitcoin holds above the key $110K level, many traders are expected to rotate profits into altcoins like XRP.
With growing whale interest and rising prices, XRP is firmly back in the spotlight.
Also Read: Peter Brandt Predicts Major Bullish Move for XRP: “Up Up Up”
