XRP Whale Count Hits All-Time High Amid Price Surge

XRP has seen a surge in whale activity, with addresses holding at least 1 million tokens reaching an all-time high of 2,743. This represents a significant increase from previous counts and indicates that these whales now control a substantial portion of the total XRP supply.

The recent price action has also been impressive, with XRP surging 26% over the past week and jumping 10% in just 24 hours to trade at $2.85. This rally has wiped out $31.44 million in short positions as traders position for continued upward momentum.

This trend is seen as a positive sign by Santiment, who notes that the dual increase in whale count and total holdings is a 'very positive sign' for XRP amidst broader market strength. The surge coincides with Bitcoin reaching consecutive all-time highs and Ethereum gaining 17.51% across the week.