XRP Price Rockets Past $1: On-Chain Data Unveils Key Holder Cohort Behind Breakout 🚀
The XRP price recently surged past $1 for the first time since 2021, reaching a high of $1.26. This marks a significant milestone, as XRP had been trading below $0.6 for most of the past three years. The price increase ties to strategic accumulation by large holders.
On-chain data indicates a trend among massive holders, including whales and sharks. Whales and shark wallets holding between 1 million and 100 million XRP account for this strategic movement, collectively accumulating 453.3 million tokens, signaling bullish sentiment.
Interestingly, retail traders have been selling, dumping 75.7 million tokens, yet whale and shark wallets quickly absorbed these, maintaining their control. Notably, this coordinated action has propelled XRP to regain its sixth place in market cap, displacing Dogecoin.
Despite recent price pullbacks to $1.06, bullish sentiments persist with expectations for the XRP price to hit new highs. Predictions suggest if whales and sharks maintain their holdings, XRP could see further growth, supported by potential SEC leadership changes.
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