After consolidating between $2 and $2.35 for the week, XRP has finally broken out of this price range. As the market turned bullish, the altcoin witnessed a surge to levels not seen since May, triggering hopes about the sustainability of the current upward move.
It is important to note that this sudden spike comes in light of growing whale wallets on the network. Thus, this renewed uptick in price might be propelled by the significant accumulation of the altcoin by large wallet addresses.
In addition, the platform highlighted that this group of investors has collectively accumulated over 47.32 billion XRP, valued at a whopping $114 billion at current prices. This growth is a sign that big investors are persistently displaying confidence in the altcoin’s future.
