XRP Whales Fuel Massive Price Surge with $24B Valuation Boost

XRP whales are making a significant return to the market, scooping up over 300 million XRP in just four days. This accumulation comes as the coin has delivered a massive breakout this week, with prices surging 20% over the past 24 hours and 39% over the past seven days.

According to data from Santiment, whales have been actively accumulating XRP, driving its valuation by nearly $24 billion in just three days. The coin's market capitalization has now reached approximately $86.82 billion.

Analyst Ali Martinez highlighted the whale activity on social media platform X, saying 'whales are going crazy.' He noted that whales had accumulated over 300 million XRP, and predicted that XRP could reach $1.6 if it breaks through a key technical level.

Martinez's prediction comes as XRP has already pushed through the $1.20 level and reclaimed prices not seen since mid-May. The coin's recent surge has also put it among the top weekly gainers, with a 39% increase over seven days and a 20% rise over the past day.

As traders eye the next potential targets for XRP, Martinez suggested that $1.35 could be a possible level for the token to reach. However, he emphasized that his predictions are based on on-chain data and should not be taken as investment advice.