Whale Accumulation Fuels XRP Price Rally
XRP has recently surged past the $3 threshold, driven primarily by sustained accumulation from major holders. Market data confirms that $2.80 has established itself as a strong support level, providing a foundation for the ongoing rebound. Over the past few days, whales have acquired 250 million XRP, and in the three days prior, they purchased an additional 120 million XRP—totaling several hundred million dollars in value. This influx signals that institutions and large investors are leveraging retail investors’ panic, accelerating their strategic positioning.
Parallels With the 2017 Bull Run
Numerous analysts have highlighted the remarkable similarities between the current momentum and XRP’s explosive rally in 2017. Back then, skepticism dominated the market, yet prices soon entered a parabolic climb. At press time, $3.40 stands as a critical resistance level; a breakout could spark a new round of buying and set the stage for a challenge of the $5 barrier.
ETF Decisions May Serve as the Biggest Catalyst
The U.S. Securities and Exchange Commission (SEC) is expected to rule on several XRP ETF applications in October. Approval could trigger a capital influx reminiscent of the Bitcoin ETF launch, attracting substantial institutional investment. Even without ETF approval, the fourth quarter is historically strong for crypto markets, and whale activity reflects confidence in this seasonal trend.
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Outlook
XRP is currently consolidating around the $3 level, and short-term volatility remains. If the price decisively breaks above $3.65 and subsequently $4.50, XRP will enter a fresh price discovery phase, with gains potentially reaching 50% and a final target of $5. Market consensus views this as only the beginning of XRP’s new bullish cycle.
