XRP Whales Scoop Up 300M Tokens as Market Cap Jumps $24B

Large XRP holders are back in force, snapping up more than 300 million XRP as the token posts one of its strongest rallies this year. Analyst Ali Martinez flagged the surge in whale activity on X, citing Santiment data showing whales accumulated over 300 million XRP in just four days. The buying spree comes alongside a sharp breakout in price. XRP is up about 20% in the past 24 hours and roughly 39% over the last seven days. The token briefly touched $1.40 today after trading near $0.989 earlier this week. Martinez has recently struck a more bullish tone on XRP, arguing earlier this month that on-chain signals pointed to a potential bull run. On August 9, he noted that nearly 3 billion XRP had been transacted around the token's then-current price area, suggesting a monthly close above that zone could pave the way toward $1.35 and potentially $1.64. After the latest spike, he said on-chain data implies a likely retracement or consolidation zone around $1.25 to $1.35, adding that $1.35 stands out as a key level. XRP's rally has also been fueled by a broader crypto rebound that has added about $440 billion to total market capitalization since August 17. XRP has been one of the standout winners: its market cap has climbed by nearly $24 billion in three days to around $86.82 billion, placing it among the top weekly gainers. A move above $1.40 marks a notable technical recovery, with XRP not having traded at that level for roughly three months. With whales continuing to accumulate and key levels reclaimed, traders are watching the next psychological milestones at $1.5, $1.8, and $2, particularly as ETF products are seeing substantial inflows. Disclaimer: This content is for informational purposes only and should not be taken as financial advice. The views expressed may reflect the author's personal opinions and do not represent The Crypto Basic's position. Readers should conduct their own research before making investment decisions. The Crypto Basic is not responsible for any financial losses.