XRP Surges on Coinbase Amid Whale Activity and Market Momentum

XRP has seen a remarkable rise recently, pushing it into the spotlight as one of the top-performing cryptocurrencies on major exchanges like Coinbase. This renewed enthusiasm around Ripple’s native token is largely attributed to heavy whale involvement, increased trading volume, and bolstered interest in derivatives markets.

XRP grabbed the second position on Coinbase’s trading volume chart with $413 million recorded over a 24-hour period, positioning itself just behind Bitcoin. Trading at $2.96 as of the latest figures, the token has gained 6% in a single day and nearly 29% over the past week. Market watchers attribute this robust movement to increasing activity from large investors and rising institutional engagement.

Whales Drive XRP’s Momentum

Key support for XRP’s ongoing surge stems from large-scale investors accumulating the asset. These whales have been instrumental in pushing XRP beyond a critical resistance, as the token broke out from a defined descending triangle pattern. This move was not a mere blip—it came with strong fundamentals, such as sustained inflows of capital and heightened on-chain activity.

In just 24 hours, the XRP network added around 7,000 new wallets, as observed by analytics firm Santiment. This spike in user count underscores the growing popularity of the asset, likely boosted by Ripple’s expanding enterprise partnerships and a more transparent regulatory environment. Ripple’s increasing clarity on the legal front is encouraging both individual investors and institutions to engage more confidently.

Upbit Dominates Spot Buying

Market data revealed by crypto analyst Dom reported that XRP experienced net buy pressure of 45 million tokens while moving from $2.60 to $3.00. South Korean exchange Upbit led the charge, responsible for 70%—or 32 million coins—of that buying activity. This demonstrates how influential localized markets can be during a rally.

Following Upbit, Coinbase contributed 11 million in net purchases, while Kraken and Bitstamp added 9 and 6 million respectively. Interestingly, Binance’s net activity turned out negative during this period, highlighting a discrepancy in regional buying strength. These statistics point to a highly concentrated trading dynamic, where specific exchanges wield significant sway over price action.

Strong Technical and Derivatives Support

This surge in XRP isn’t fueled by hype alone. The asset’s performance near the breakout region at $2.84 shows strong buyer interest, suggesting well-distributed accumulation. Price movement remained controlled and measured, a sign that institutions and seasoned investors may be behind the ongoing rally rather than speculative traders alone.

According to CoinGlass, trading volume for XRP escalated by 30%, reaching $20.2 billion. In addition, open interest rose to $8.06 billion with a 7.79% increment. Most impressively, options trading activity spiked by over 62%, indicating a substantial uptick in derivatives engagement. These figures provide a tangible indication of increased market participation and confidence surrounding XRP’s short-term trajectory.

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

As trading activity and investor engagement continue to ramp up, XRP stands out as a leading altcoin, not just on Coinbase, but across global markets. With its increasing wallet adoption, strong institutional buying, and growing presence in derivatives markets, XRP appears to be building the technical and fundamental base for its future momentum.