XRP Whales and Institutions Fuel Bullish Sentiment Amid Price Volatility

XRP has seen mixed sentiments in recent days after dipping to its lowest level since November 2024, briefly trading below $1 before recovering. This discount did not go unnoticed by whales and institutional investors, who returned aggressively during the dip, hinting at potential price recovery.

Whales bought over 72 million XRP tokens in a single day after the dip, with their holdings increasing from 12.09 billion on August 12 to 12.18 billion tokens on the following day. This aggressive buying behavior has led some to wonder if they are preparing for a bull rally.

According to SoSoValue, XRP ETF inflows turned positive after four days of inactivity, with Bitwise XRP ETF accounting for all $2.25 million in daily net inflow. Institutions have also backed the ongoing whale accumulation, with Morgan Stanley revealing their $1 million XRP exposure through XRP ETF positions issued by Franklin, Bitwise, and Rex-Osprey.

However, despite the positive signs, the price action remained bearish, hinting at a potential reversal. The altcoin has been trapped in a brutal descending structure since its $3.66 peak, with the current support at $1.0020 holding above the mid-range of the descending channel.