XRP’s market has been buzzing with significant activity, particularly from its largest investors, or “whales.” Over the past week, these major holders have acquired a staggering 453.3 million XRP tokens, valued at approximately $526 million. This massive accumulation comes as XRP maintains its position above the $1 mark, following a three-year high of $1.26.

Record Whale Accumulation

On-chain data reveals that XRP whales are showing unprecedented levels of interest in the cryptocurrency. Investors with substantial holdings—those holding over 100,000 XRP—have pushed their collective holdings to a new all-time high, reaching 51.59 billion XRP. This group now controls 85% of XRP’s total circulating supply, indicating a significant concentration of tokens in the hands of a few large investors.

The surge in whale activity comes at a time when the price of XRP recently peaked at $1.26, its highest value in three years. Despite a slight pullback to $1.105, XRP has maintained strong support above the $1 threshold, which remains a key psychological level for traders.

Rising Concentration of XRP Among Large Holders

The accumulation is not just limited to the largest XRP holders. Addresses holding between 1 million and 10 million XRP have also been expanding their positions, now controlling 18% of the total circulating supply. This increased concentration of tokens among mid-sized and large investors suggests that whales are confident in the future growth of XRP, even amid market fluctuations.

Market analysts have noted that this type of accumulation is a clear signal of bullish sentiment. The influx of XRP into whale wallets coincided with a significant breakout above the $1 price point, a crucial level that had previously acted as a resistance point for the cryptocurrency.

XRP’s Price Movements and Market Projections

As XRP’s price surged past $1 and reached a three-year high of $1.26, it briefly corrected by 14%, aligning with broader market trends. However, the asset has shown resilience, with buyers stepping in to support the price above $1. This ongoing support indicates continued confidence in the token, despite the pullback.

Several market analysts are optimistic about XRP’s future price movements, with some projecting significant gains. Bobby A, a market commentator, suggests potential price targets ranging from $3 to $13, while Chartered Market Technician Tony Severino sees the possibility of XRP rising to $20 based on Elliott Wave analysis.

These projections are bolstered by the substantial whale activity and the fact that XRP’s price has remained above $1, which suggests strong market fundamentals.

XRP’s Market Structure: Consolidation Phase

The market is currently in a consolidation phase following the recent surge, with XRP trading in a stable range above $1. This period of adjustment is typical after sharp price movements, and the continued presence of large investors in the market suggests that XRP may be preparing for another upward move in the near future.

Despite the recent pullback, XRP’s trading volume has remained steady, with consistent activity across major exchanges. The token has continued to draw interest from both retail and institutional investors, keeping liquidity high and supporting its price at key levels.

Conclusion: A Strong Market Outlook for XRP

XRP’s market performance in the past week highlights a growing concentration of wealth among its largest holders, with whales acquiring millions of tokens. This surge in accumulation is a clear sign of confidence from major investors, suggesting that XRP could be poised for further gains. While the price recently corrected from its three-year high, the support above $1 indicates strong buyer interest and a healthy market structure.

With whales holding a significant portion of the circulating supply and market analysts projecting future price growth, XRP’s outlook remains positive. If the current trends continue, XRP could see new highs in the coming months, with increased whale activity providing further bullish momentum.