XRP Hits 7 Year High with Massive Whale Transactions and Adoption

• XRP surges to $3.39, driven by 2,365 $100K+ whale transactions in 8 hours, signaling strong institutional activity.
• Over 511,430 new XRP wallets were added in 2 months, pushing holders to 5.93M, reflecting growing retail and institutional interest.
• Whale activity, rising trading volumes, and wallet growth drive XRP’s bullish momentum and expanding market liquidity.

With XRP price reaching $3.39, its highest level since January 2018, XRP has achieved a milestone. The asset’s increasing investor confidence is demonstrated by this rally. Whale activity increased dramatically, with 2,365 trades totaling more than $100,000 in just eight hours, according to Santiment. Large-scale investment activity has increased, as seen by the biggest surge in six weeks.

Besides whale activity, retail adoption is also rising. Over 511,430 new non-empty XRP wallets were added in just two months. This increase pushed the total number of XRP holders to 5.93 million. The influx of wallets reflects a growing retail and institutional interest in XRP.

Whale Activity Driving XRP’s Price Surge

Whales play a crucial role in XRP’s recent price surge. Their heightened transaction volumes directly correlate with the sharp price increase. These large-scale investors often drive liquidity, leading to significant market movements. Additionally, the surge in trading volume complements this activity, further supporting XRP’s bullish momentum.

Moreover, price patterns over the past six weeks reveal a steady recovery trend. The candlestick chart demonstrates consistent upward movements, supported by an upward-sloping moving average. Consequently, XRP’s bullish trajectory aligns closely with increasing whale activity, indicating a strong market foundation.

Retail Adoption Fuels Market Expansion

Retail adoption is growing rapidly, adding another dimension to XRP’s market dynamics. Besides whale transactions, the rise in non-empty wallets highlights increased user engagement. The orange line shows steady wallet growth, signifying sustained interest from investors.

Moreover, increased wallet creation reflects broader adoption by both retail users and institutions. This growing engagement boosts market liquidity and strengthens XRP’s position. Hence, the synchronized growth of whale activity and wallet adoption paints a positive outlook for the asset.

Additionally, trading volumes have surged alongside the price increase. This trend indicates higher participation and confidence among traders. The interplay of retail and institutional interest, coupled with robust whale activity, is driving XRP’s market capitalization growth.