XRP Whales Scoop Up 300 Million XRP, Driving Its Valuation by $24B

XRP whales are making a major return to the market, with more than 300 million XRP accumulated as the coin stages one of its strongest price rallies of the year.

Analyst Ali Martinez highlighted the whale activity in a post on X, saying whales are going crazy. Citing data from Santiment, he revealed whales had scooped up more than 300 million XRP in just four days.

The accumulation comes as the coin has delivered a massive breakout this week. The token is up roughly 20% over the past 24 hours and has climbed about 39% over the past seven days. It briefly reached $1.40 today after trading at $0.989 earlier in the week.

Ali Martinez Sees XRP Reaching $1.6

Notably, Martinez turned bullish on XRP earlier this month, arguing that on-chain data suggested the token was preparing for a potential bull run.

On August 9, the analyst pointed out that nearly 3 billion XRP had been transacted around XRP’s then-current price level. He argued that a monthly close above that zone could open the door toward $1.35, followed potentially by $1.64.

After XRP’s latest surge, one user asked Martinez how high the token could rise before retracing. In response, he suggested $1.35 as a possible level. “I believe $1.25 to $1.35 based on on-chain data,” he said.

His projected range now comes as XRP has already pushed through the $1.20 level and reclaimed prices not seen since mid-May.

Among Biggest Gainers

The latest whale accumulation coincides with the overall crypto market recovery that has lifted the total market capitalization by roughly $440 billion since August 17.

XRP has been among the biggest beneficiaries. Its market capitalization has surged by nearly $24 billion in just three days to approximately $86.82 billion.

The rally has also put XRP among the top weekly gainers, with the token up around 39% over seven days and more than 20% over the past day.

XRP’s move above $1.40 marks a significant technical recovery, as it had not traded at that level for roughly three months.

With whales now accumulating hundreds of millions of XRP and the price reclaiming key technical levels, traders are eyeing the psychological levels at $1.5, $1.8, and $2 as next potential targets, especially as ETFs are now seeing massive inflows.