The XRP market is sending bullish signals as new whale data reveals big players are loading up on the fourth-largest crypto asset while its price rallies sharply.
According to fresh data from the onchain analytics platform Santiment, the number of wallets holding at least 1 million XRP has surged to a new all-time high of 2,743, a significant milestone that suggests rising confidence from heavy investors.
These whales now control over 47.32 billion XRP tokens, marking one of the largest concentrations of supply ever seen among big holders. The spike in whale accumulation aligns perfectly with XRP’s impressive 26% price jump over the past week. At the time of writing, XRP trades around $2.80, having gained another 10% in just 24 hours, according to CoinMarketCap data.
Shorts Get Wrecked as Bulls Take Charge
As the whales grow in number, short traders are feeling the pain. CoinGlass data shows that XRP’s latest surge has liquidated more than $31.44 million in short positions within a single day, adding fuel to the rally as bears scramble to cover their bets.
Just last month, XRP spent nearly 200 days consolidating between $1.90 and $2.90, leaving traders split on its next move. Now, the breakout is clear, and whales are backing it.
“Not only are there more XRP whales than ever, but the total supply they hold is also increasing. This dual trend is a very positive sign,” Santiment said in its Friday update.
Altcoin Season Takes Shape as Bitcoin Holds Above $110K
XRP’s strength is part of a wider altcoin breakout. Santiment says metrics confirm that the altcoin season is here. If Bitcoin can hold above its crucial $110,000 support, traders may keep rotating profits into other major coins.
This trend was clear last week as Bitcoin hit new all-time highs, touching $116,500, while Ethereum surged over 17%, climbing close to $3,000.
For now, XRP appears well-positioned to ride this momentum. If whales continue to accumulate at record levels, analysts believe the price could challenge its multi-year highs if broader market sentiment remains bullish.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
