- Whales accumulated 830M XRP in 24 hours, suggesting confidence as Ripple launched its new RLUSD stablecoin.
- XRP holdings in large wallets hit 9.7B in December, showing institutional positioning despite price retracements.
- Ripple’s RLUSD launch and potential SEC leadership changes boost investor optimism amid XRP’s stable price near $2.50.
Whales have notably increased their XRP holdings, accumulating over 830 million coins within 24 hours. The activity coincides with influential events surrounding Ripple, including the launch of its new stablecoin, RLUSD. The recent accumulation and strategic movements in XRP holdings hint at possible changes in investor sentiment as large wallets gain momentum.
Whale Accumulation and Price Dynamics
Analyst Ali reveals an increase in XRP accumulation by wallets holding 100 million to 1 billion coins. In late November, these addresses began accumulating XRP, coinciding with a price surge.
This accumulation trend points to a potential link between whale behavior and upward price movements. Despite facing volatility after the initial surge, XRP’s price remained stable while whale holdings stayed consistent.
Mid-December saw another sharp accumulation, pushing large wallet holdings to 9.7 billion XRP, the highest level this year. However, XRP’s price slightly retraced during this period, suggesting the market has yet to fully react to the buying activity. Large wallet behavior often shows confidence or strategic positioning among institutional investors.
Market Movement and Technical Indicators
At press time, XRP was trading at $2.52, up by 3.65% in the last 24 hours and 137.35% over the past month. On the 3-hour timeframe, XRP remains in a consolidation phase between $2.20 and $2.60. Resistance is visible near $2.60, while support holds around $2.30.
The Relative Strength Index (RSI) is at 59.90, suggesting moderately bullish conditions. Additionally, the Moving Average Convergence Divergence (MACD) indicator shows a mild bullish crossover. This signals potential upward movement if resistance levels are breached.
Meanwhile, XRP inflow and outflow trends as per Coinglass show an intriguing correlation with price changes. From March to early November, XRP saw consistent net outflows, suggesting holding behavior among investors.
However, a notable price surge in November coincided with significant inflows, suggesting increased trading activity. December recorded both inflows and outflows amid price volatility, stabilizing XRP around $2.50.
Ripple’s RLUSD Launch and Regulatory Optimism
The launch of RLUSD stablecoin also adds to the optimism around XRP. Ripple’s President, Monica Long, described the release as crucial for both Ripple and the XRP Ledger.
RLUSD is set to strengthen Ripple’s $70 billion payments ecosystem and is supported by compliance standards and experienced partners. Ripple CEO Brad Garlinghouse noted RLUSD’s enterprise-grade nature, announcing its availability on platforms such as Uphold, MoonPay, CoinMENA, Archax, and Bitstamp.
This launch coincides with increasing investor confidence driven by anticipated leadership changes at the SEC. As Gary Gensler’s tenure comes to an end, the potential succession of cryptocurrency-friendly Paul Atkins fuels optimism amid Ripple’s ongoing legal battle with the SEC.
