XRP Nears All-Time High as Whale Activity Boosts Momentum

XRP is making headlines again as the popular altcoin edges closer to its all-time high, fueled by strong whale accumulation and favorable market momentum. With a surge that brings it within 7% of its previous peak, XRP is capturing investor attention amid a broader rally in the crypto markets.

While Bitcoin experienced a pullback after hitting $123,000, the altcoin space, including XRP, has been thriving. Ethereum also saw significant gains, climbing close to $3,450, indicating robust bullish sentiment across the board.

Bitcoin Halts at $120K While Dominance Dips

Bitcoin had a whirlwind week, beginning with a major breakout past the $110,000 resistance, leading the asset to set a new all-time high at $123,000. The cryptocurrency soared by over $15,000 in a short span, but the rally met resistance as selling pressure drove prices down to around $116,000. Despite an attempted recovery, BTC couldn’t decisively reclaim $120,000. As of now, Bitcoin trades roughly two thousand dollars below that level, with a market cap of $2.350 trillion.

Interestingly, as Bitcoin paused, its dominance over altcoins declined to 60.6%, down from over 63% just a week earlier. This reduction in control has opened the door for altcoins like XRP and Ethereum to outperform in the current cycle.

XRP Surge Fueled by Whale Interest

XRP has emerged as one of the top-performing cryptocurrencies, drawing investor interest as it climbs past $3.15. This uptick represents a rapid 7% rally, bringing XRP within striking distance of its 2018 all-time high of $3.40. Analysts attribute this momentum to a massive accumulation trend among large holders, commonly referred to as whales.

This strategic buying behavior suggests growing confidence among key XRP holders, possibly in anticipation of ripple effects from regulatory clarity or fundamental developments in the blockchain’s ecosystem. As accumulation continues, upward pressure on XRP remains strong, making a new high increasingly likely in the short term.

Altcoin Market Heats Up

The altcoin market isn’t just about XRP and Ethereum. Several other tokens have also registered notable gains. Dogecoin, Solana, Shiba Inu, and PEPE are all enjoying upward momentum, while FLOKI outperformed all other major altcoins, becoming the top gainer among the top 100 cryptocurrencies. Additionally, BONK stole the spotlight with a stunning surge, underscoring how memecoins still command substantial investor interest during bullish phases.

Overall, the total crypto market cap rose sharply, climbing by over $70 billion in just 24 hours and approaching the $3.9 trillion mark once again. This broader increase highlights a renewed appetite for digital assets as optimism returns after a temporary slump earlier this week.

Ethereum’s Multi-Month High Adds to Bullish Sentiment

Ethereum further reinforced this bullish outlook by surging nearly 9% in one day. Now trading around $3,450, this marks the asset’s highest value in five months. The notable increase in price reflects rising network activity, strong DeFi performance, and increased investor interest, possibly tied to speculation surrounding upcoming Ethereum upgrades.

ETH’s strong rally coincides with the broader trend of altcoin resurgence, further signaling that the crypto market is not solely reliant on Bitcoin for momentum. Instead, alternative chains and assets like XRP are charting their own upward paths.

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

As XRP inches closer to rewriting its all-time high, and other digital assets continue to gain, investor optimism appears to be back in full swing across the cryptocurrency space. Whether Bitcoin regains its lead or altcoins maintain dominance, the coming days are set to be crucial for the market’s direction and XRP’s historic breakthrough potential.