XRP Bulls Eye $1.50 as Institutional Interest Surges

The price of XRP has seen a significant surge in recent hours, climbing by 3.51% to reach $1.43. This rally is being driven by several key factors, including stronger institutional interest and rising XRP Ledger activity.

One notable indicator of this trend is the growth in transaction volume on the XRP Ledger. According to XRPScan, there were 2,344,225 transactions over the latest 24-hour period, representing an increase of 8.9% from the previous day.

Large XRP holders have also been accumulating significant amounts of the token. Over the past 96 hours, whales have amassed around 1.54 billion XRP, valued at approximately $2.2 billion.

However, exchange data suggests that some of this accumulation may be related to preparations for trading or potential selling. Binance has seen a large influx of XRP from whale accounts over the past 30 days, with 1.6 billion XRP deposited in total.