XRP Whales Amass $724M as Price Targets $1.60 Resistance Level

Large XRP holders have accumulated $724 million worth of tokens over the past five days, as on-chain data shows a significant increase in whale balances.

The combined effect of institutional buying and whale demand has placed the price of XRP firmly back in focus at the $1.60 resistance level.

According to analyst Ali Martinez, whale balances have risen from approximately 12.37 billion to 12.80 billion XRP, representing a gain of more than 470 million tokens worth around $724 million at recent prices.

The token has rebounded approximately 28% from the $1.25 area and recently reached a local high near $1.58.