XRP Surges Above $1.20 as Whales Scoop Up 300M Tokens

XRP has broken above $1.20 after a sharp rally in recent days. According to Santiment data shared by analyst Ali Martinez, XRP whales have accumulated over 300 million tokens in just 96 hours.

This surge comes as Ripple Prime has closed an upsized $275 million senior-notes offering, giving the institutional brokerage fresh capital. The notes received a BBB investment-grade rating from KBRA, with proceeds earmarked for working capital and expansion of the prime brokerage's US business.

Ripple Prime is being treated like a legitimate financial institution, not just a crypto company, due to its massive scale and institutional clients. It clears over $3 trillion annually for more than 300 institutional customers across digital assets, FX, derivatives, swaps, and fixed-income markets.