XRP Surges 20% as Major Holders Accumulate Record 300 Million Tokens
Ripple's XRP token surged over 20% to reach $1.16 as major holders accumulated more than 300 million tokens in just four days, driven by a combination of crypto market momentum and positive regulatory signals from Washington.
The price jump coincided with a wider cryptocurrency market resurgence, with Bitcoin advancing 11% and reaching its highest valuation in 80 days. The aggregate crypto market capitalization expanded by 10.94% to $2.44 trillion.
One significant catalyst emerged from the White House crypto summit held on August 19, where President Donald Trump urged Congressional action on the CLARITY Act, legislation designed to establish transparent regulatory guidelines for digital assets. Ripple's CEO Brad Garlinghouse attended the high-level discussion.
The accumulation wave propelled XRP beyond resistance markers at $1.05, $1.10, and $1.15, with large holders scooping up more than 300 million tokens within a 96-hour window. This surge in demand amplified XRP's upward movement, as crypto markets saw over $1.5 billion in short position liquidations.