In a remarkable show of bullish sentiment, the number of whale wallets holding substantial amounts of XRP has reached an unprecedented high, signaling growing confidence in the digital asset’s potential. According to blockchain analytics firm Santiment, over 2,700 whale and shark wallets now hold at least 1 million XRP each for the first time in the cryptocurrency’s 12-year history. This milestone reflects a strengthening belief in XRP’s future price prospects among major holders.
Rising Whale Activity
Santiment’s report highlights a noteworthy trend in the XRP community: the uptick in whale activity. These giant holders, often considered market movers, seem to be consolidating their positions, indicating a strong bullish outlook. While some analysts might shrug it off as just another day in the volatile world of cryptocurrencies, many see it as a harbinger of potential upward momentum for XRP. This sentiment echoes recent market dynamics, as detailed in our coverage of XRP Price Whipsaws in Volatile Trading Session Amid Broader Market Slide.
What’s particularly striking is the surge in active XRP addresses, which have averaged over 295,000 per day over the past week. This figure is a significant leap from the 35,000-40,000 average seen in recent months, suggesting a renewed interest and engagement from the broader XRP community. It appears that both seasoned investors and new entrants are taking a keen interest in what XRP has to offer.
Ripple’s Cross-Border Ambitions
XRP, the payments-focused cryptocurrency, serves as the backbone for Ripple’s cross-border transaction solutions. Ripple has long touted XRP’s ability to streamline international payments by offering faster and cheaper transactions compared to traditional methods. Despite facing regulatory challenges, particularly in the United States, Ripple has continued to expand its global footprint, forging partnerships with financial institutions worldwide.
Brad Garlinghouse, Ripple’s CEO, commented on this burgeoning interest, stating, “The increased accumulation of XRP by whale wallets is a testament to the growing trust in our vision for frictionless cross-border transactions. We’re excited to see more participants recognizing the value XRP brings to the table.”
Historical Context and Market Dynamics
Historically, XRP has experienced its share of ups and downs. Its price was notably impacted by the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), which alleged that Ripple’s sales of XRP constituted an unregistered securities offering. The case has dragged on, casting a shadow over XRP’s market performance. However, recent developments hint at a possible resolution, which could serve as a catalyst for further price appreciation. For a broader perspective on potential market shifts, see our analysis of Crypto ‘altcoin ETF summer’ may come in July with SEC approvals: Analysts.
As of today, XRP is trading at approximately $2.23, representing a modest 7% gain for the year, according to CoinDesk data. While this may seem modest compared to the dizzying highs of other cryptocurrencies, the recent whale accumulation suggests that many are betting on a brighter future for XRP.
Looking Ahead
The increase in whale wallets raises intriguing questions about the long-term trajectory of XRP. Will this newfound confidence translate into sustained price growth, or is it merely a speculative bubble waiting to burst? As Ripple continues to navigate its legal challenges and expand its international partnerships, the answer may become clearer.
One thing is for sure: the cryptocurrency market is nothing if not unpredictable. While the current trend is encouraging for XRP holders, the path forward is fraught with uncertainties. Market watchers will undoubtedly keep a close eye on whale movements and regulatory developments in the coming months, eager to glean insights into XRP’s next chapter.
As the dust settles, the crypto world remains abuzz with speculation—an all-too-familiar state of affairs in this ever-evolving landscape. Whether XRP’s whale rally marks the beginning of a new era or a fleeting moment of optimism, only time will tell. But for now, XRP is basking in the spotlight, buoyed by the belief of its most formidable investors.
Source
This article is based on: XRP Hits 12-Year Milestone With Over 2,700 Whales, Holding Over 1M XRP, Onchain Data Show
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
