XRP Soars as 47.32 Billion Tokens Locked by Whales

XRP has captured investor attention once again as whale activity around the cryptocurrency surges dramatically. On-chain data indicates that a massive 47.32 billion XRP is currently locked in accounts holding at least one million tokens, marking a significant milestone in the asset’s growth narrative.

This noteworthy accumulation by large-scale holders coincides with XRP reaching its highest level in over seven weeks, breaking past $2.39—a value not seen since late May. As of early Thursday trading, XRP extended its upward climb with a peak of $2.459, further fueling market optimism.

Analytics firm Santiment was among the first to highlight this development, noting that the number of wallets holding at least one million XRP has reached 2,742—just one wallet shy of its all-time high of 2,743. These wallets collectively hold the immense 47.32 billion XRP, showcasing reinforced confidence from institutional and high-net-worth investors.

Market watchers have their eyes firmly on this accumulation trend, which often signals the strategic positioning of prominent players. The increasing number and size of these XRP-rich wallets suggest that whales anticipate continued bullish movement in the crypto’s near-term performance.

Another catalyst pushing XRP’s momentum came from Ripple’s latest strategic move. The company recently appointed the Bank of New York Mellon as custodian for its newly launched U.S. dollar-backed stablecoin, RLUSD. This announcement fueled renewed interest in XRP, with prices reacting positively and gaining over 4% in the past 24 hours and 6.5% over the recent week.

Crypto analyst Ali points out that XRP’s chart is showing solid upward momentum, having breached significant resistance points. With the $2.60 mark now in sight, the asset appears poised for further growth—provided bullish sentiment remains intact. Should prices surpass that threshold decisively, there’s speculation that XRP could head toward the $3.00 range.

From a technical perspective, this accumulation pattern demonstrates not only price optimism but also a fundamental shift in investor behavior. It’s a sign that stakeholders view XRP as more than a short-term trading asset; rather, they may be treating it as a long-term strategic holding, especially amid growing institutional integrations like RLUSD.

Currently, with XRP maintaining upward price pressure and whale interest gathering pace, sentiment remains positive. The market is watching closely to see if this momentum can push the coin past emerging resistance levels—and potentially usher in the next chapter of XRP’s development.

Major XRP holders don’t just influence price moves; they also shape the broader narrative around adoption and trust in Ripple’s ecosystem. With growing whale consolidation, the signals suggest rising institutional trust, and that could serve as a tailwind for future projects linked to Ripple and its token economy.

Investors are now weighing whether this accumulation is simply a reaction to favorable market conditions or a long-term bet on Ripple’s evolving role in cross-border payments and blockchain finance. Either way, the locking-in of 47.32 billion XRP speaks volumes about where big money thinks the future of XRP is headed.

Related: XRP Price: $12M Max Pain for Bears

As the crypto space continues to evolve, XRP will likely remain a focal point, particularly if large holders maintain their current positions or increase them even further. With market fundamentals aligning and institutional players showing confidence, XRP’s next moves could be game-changing.