XRP Bulls Reinforce Breakout Above $1.60 Amid Whale Accumulation

Ripple's XRP token continues to show strength in the market, with its price rising towards $1.60 as investors remain bullish on its prospects.

The token has seen significant accumulation by large-volume holders, who now account for around 14% of the total supply, up from 12% in September and nearly 11% in August.

This increase in whale activity is reflected in the Fear & Greed Index, which remains in the 'Greed' territory at a reading of 71, indicating that appetite for crypto assets remains strong.

The remittance token has also seen notable inflows into spot Exchange-Traded Funds (ETFs), with $20 million flowing into XRP on Tuesday, following muted activity the day before and outflows of $44,000 last Friday.