Key Insights
- According to Ali Martinez, Ripple whales bought 320 million XRP worth $1 billion in just three days.
- Ripple and the SEC recently ended their legal battle, which has removed some of the issues with regulatory uncertainty.
- Analysts predict XRP could reach $6–$8 if accumulation rates and investor interest continue.
XRP price action has been heating up again. This comes especially after recent buying interest from Ripple’s whale investors.
According to data from analyst Ali Martinez, these whales have accumulated 320 million XRP in only 72 hours. Particularly, this stash is worth about $1 billion.
What The Whales Have Been Up To
Ali Martinez shared on August 13 that whales were active. They accumulated nearly $1 billion of the assets in just three days.
Historically, such large purchases are often a sign of lower selling pressure. It tends to attract retail traders who follow the whales in their moves. A similar accumulation happened in July.
This pushed the XRP price to an all-time high above $3.60, before profit-taking brought it back under $2.80. This trend isn’t exclusive to Ripple’s token. Dogecoin whales recently bought over a billion DOGE in a single day.
This move kick-started a 25% price jump from $0.20 to $0.25. Cardano has also seen the same pattern lately. With this, the whales recently bought 200 million ADA at below $0.80, helping it climb to over $1
Whale Accumulation Boosts XRP Price and Other Major Cryptos
XRP rally gained traction after Ripple and the SEC withdrew their appeals. The resolution removed one of the biggest regulatory risks for the token, explaining the whales’ behaviour as of late.
XRP price surged from around $3.24 to $3.33 within 24 hours on 13 August. With this, the trading volume is hitting new high levels. The token had broken before the $3.27 resistance by early trading hours, on 217.4 million volume.
Support has also formed between $3.20 and $3.22, while selling pressure currently sits at $3.34. Overnight volume has been high, at more than 117 million per hour. In summary, interest in XRP has been high lately, across the board.
Analysts See $6 – $8 as the Next Major Target.
Market analysts are now comparing the XRP price rally to its 2017 breakout phase. The legal clarity has created the right conditions for a surge toward $6- $8. It was accompanied by whale activity and its strong demand.
For this to happen, XRP must hold above its $3.33 support and push toward $3.40 in the short term. If volume remains higher than the baseline of $81.7 million, the chances of another breakout are set to skyrocket.
Market Watching for Short-Term Moves
Traders are now watching to see whether the $3.33 support will hold. If it does, it could trigger the next push toward $3.40. As of writing, institutional flows are still the primary driver of price action. With this, there are visible signs of institutional buys at major key resistance levels.
The rest of the crypto market is still reacting to the Ripple-SEC development. XRP is under many radars. This means other tokens facing regulatory pressure could be on the verge of price boosts. This could be seen if investor confidence in the XRP price surge improves.
Outlook for XRP Price
Overall, whale accumulation and heavy institutional buying have set the stage for further gains. If XRP price holds steady and breaks through short-term resistance levels, the $6 – $8 range is within reach.
However, traders should watch for profit-taking at each level. While the long-term outlook is strong, short-term volatility is still high, and risk management is non-negotiable.
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