XRP Whales Fuel Price Rally with Record Accumulation

XRP's price has been experiencing a significant rally in recent days, and large-holder activity is playing a crucial role in this movement. According to data, major holders have amassed approximately 1.54 billion XRP, worth around $2.2 billion at the time, in just 96 hours.

High-value transactions by whales are also on the rise, with Santiment recording 1,917 transactions worth at least $100,000 during the recent rally. While these transactions do not necessarily prove purchases, they may indicate internal wallet movements or sales.

The price recovery and accumulation data suggest that large-holder positioning has improved XRP's market structure. The token has broken through a declining resistance line and is currently trading above its major moving averages.

Not only are whales accumulating XRP, but new wallets have also been added to the XRP Ledger, with 3,647 new wallets joining since the start of the rally. Additionally, net inflows into the XRP ETF have totaled around $1.73 billion by September 22nd.