XRP Whales Move Early as Price Surges 70%
XRP's recent price surge has been attributed to an early warning sign. According to data from Santiment, 85 new wallets holding at least 1 million tokens appeared just two days before the August 17-21 surge, which saw XRP prices rise by a staggering 70%. These larger wallets can absorb supply and strengthen bids while shifting liquidity faster than retail traders.
This phenomenon has often been observed ahead of XRP's sharpest moves. The Santiment data suggests that these millionaire wallets were already on the move before the price breakout, indicating a bullish setup for the cryptocurrency.
The setup was further supported by institutional investment in US-based spot XRP ETFs, which have raked in over $43 million in inflows so far in August. If this trend continues, it could extend their inflow streak to 10 consecutive weeks.