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XRP jumps 12% to $2.86 as whales drive aggressive accumulation

by admin January 15, 2025
January 15, 2025
XRP jumps 12% to $2.86 as whales drive aggressive accumulation

XRP has experienced a dramatic 12% increase in value within 24 hours, reaching $2.86 at the time of writing—a price level last seen in early 2018.

This milestone has sparked heightened interest across the cryptocurrency market, particularly from institutional investors and high-net-worth individuals.

Source: CoinMarketCap

The driving force behind this rally appears to be an aggressive accumulation of XRP by “whales”—wallets holding substantial volumes of the cryptocurrency.

Blockchain analytics reveal that wallets containing between 1 million and 10 million XRP have collectively accumulated over 1.43 billion tokens since November, representing a significant 37.4% increase.

This trend underscores growing confidence among institutional players, further fuelling market speculation about XRP’s future performance.

What’s driving the XRP surge

The recent surge in XRP’s value is not merely a reflection of whale activity but also aligns with broader institutional trends and speculative optimism.

Market analysts have pointed to the possibility of an XRP-based exchange-traded fund (ETF) being approved in the United States as a major catalyst.

With Bitcoin ETFs gaining traction, attention is shifting to other cryptocurrencies like XRP, which could benefit from similar institutional endorsement.

Adding to the optimism is the potential resolution of XRP’s long-standing legal dispute with the US Securities and Exchange Commission (SEC).

While the case remains unresolved, the likelihood of a favourable outcome appears to be increasing.

Analysts suggest that pro-crypto sentiment within the new administration could influence the regulatory landscape, indirectly supporting XRP’s growth trajectory.

The SEC’s decisions surrounding digital asset regulations remain under scrutiny, and XRP’s case could set a significant precedent for the broader cryptocurrency market.

This has further ignited discussions about how the evolving regulatory environment may influence institutional participation and market maturity.

Broader implications for altcoins and market sentiment

XRP’s rally is part of a broader trend in the altcoin market, with investors increasingly rotating capital from Bitcoin to other promising cryptocurrencies.

This dynamic is bolstered by XRP’s historical significance and its renewed relevance in the evolving financial ecosystem.

Notably, large financial institutions, including JPMorgan, have started projecting substantial inflows into XRP and Solana-based products, further validating the market’s confidence.

A recent report estimates XRP could attract between $4 billion and $8 billion in net new assets if ETF products materialise, potentially reshaping the competitive landscape of digital assets.

The sharp increase in XRP’s value also highlights the growing role of institutional-grade investment vehicles in driving market movements.

As traditional investors seek exposure to cryptocurrencies through regulated products, digital assets like XRP may experience sustained demand, leading to further market growth.

As XRP stabilises above key resistance levels, the cryptocurrency’s bullish outlook is supported by robust on-chain data and increasing institutional engagement.

The post XRP jumps 12% to $2.86 as whales drive aggressive accumulation appeared first on Invezz

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