XRP continues to attract significant attention from both whales and institutional investors, solidifying its position as a key player in the crypto market.

In recent weeks, XRP addresses holding between 1 million and 10 million tokens have surged, now controlling assets worth over $1.1 billion.

Institutional investors are increasingly eyeing XRP due to its utility in cross-border payments, further driving demand. Over the past seven days, XRP’s price has climbed 29%, reaching $2.44.

Analysts are optimistic about its future, with price targets as high as $10, citing the growing activity among whales and institutional players.

📰 XRP Whales Accumulate as Institutional Interest Grows
🟠 XRP addresses holding between 1M and 10M tokens have surged, now controlling over $1.1B in assets.
🟠 Institutional investors are increasingly focusing on XRP due to its role in cross-border payments.
🟠 XRP’s price has… pic.twitter.com/fqwsYNL2T6

— Bitcoinsensus (@Bitcoinsensus) December 7, 2024

Whales Stay Confident Despite XRP Price Action 

Recent price fluctuations haven’t deterred whale investors. After XRP dipped from $2.90 to $2.22, whales seized the opportunity to buy the dip, acquiring over 120 million XRP valued at $288 million. This accumulation signals strong confidence in the asset’s long-term potential.

While $XRP dropped from $2.90 to $2.22, whales bought the dip. They purchased over 120 million #XRP, totaling $288 million! pic.twitter.com/aF2L9dB6Ks

— Ali (@ali_charts) December 7, 2024

Ripple’s momentum is further bolstered by Charles Hoskinson’s endorsement of RLUSD, adding another layer of bullish sentiment. XRP’s technical indicators also paint a promising picture, with a bullish pennant pattern suggesting a potential breakout to $3. Many believe this could act as the catalyst for XRP’s next significant rally.

🚀 Ripple’s #XRP has been soaring, fueled by Charles Hoskinson’s support for RLUSD! With a bullish pennant pattern & a potential $3 breakout, could this be the catalyst for XRP’s next big move? 🌐💰 #RLUSD #Crypto #Finance #Stablecoins #CharlesHoskinson #Cardano #Blockchain… https://t.co/2eonJysbwd pic.twitter.com/9hwD2z9LSu

— Collin Brown (@CollinBrownXRP) December 6, 2024

The combined impact of whale accumulation, institutional interest, and favorable technical patterns underscores XRP’s strong position in the market. As the ecosystem evolves, XRP remains a focal point for investors looking to capitalize on its growth and utility in global finance. Whether this momentum will carry XRP to its ambitious price targets remains to be seen, but the current trends are undoubtedly bullish.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

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