XRP Transactions Barrels Over $1 Billion To Monthly Highs, Are Whales Driving The Next Leg?

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRP is making headlines once again as its network records a dramatic surge, surpassing $1 billion in daily transfer volume for the first time in over a month. The spike comes on the heels of a powerful price rally, with possible signs that large holders, also called whales, may be playing a key role in driving the cryptocurrency’s next leg.  XRP Transactions Hit Major Highs

The XRP network is showing renewed strength and growth as transaction volumes have skyrocketedto over $1.07 billion. This spike follows a massive 67% rally in the digital asset’s price, which climbed above $3.5earlier this month after a long period of consolidation. This impressive price surge marks one of the most aggressive upward moves in recent months.  Related Reading Pundit Warns XRP Investors To Not Make This Grave Mistake This Cycle 4 days ago

The resurgence in both network activity and price signals is growing market momentumand possibly a shift in sentiment among investors and traders. Notably, XRPScan, a platform that records data from the XRP Ledger, revealedthat the large-scale transfer volume was recorded on July 18, representing the cryptocurrency’s largest single-day figure in over a month.

What’s particularly notable about this recent volume surge is that it does not appear driven by speculative churn alone. The elevated flow of funds between accounts and the increase in user addressessuggest a deeper level of network usage. 

Data from XRPScan shows that XRP payment volumefrom one account to another rose to 1.72 billion on July 18. Additionally, the number of successful transactions executed around the same time totalled over 2.08 million. New active accountshave also climbed significantly, with July 18 recording the highest daily count over the last month at 10,279. 

With blockchain metrics flashing green and XRP’s price reclaiming bullish momentum, the surge in daily transfer volume signals a fresh wave of bullish confidence among holders. Typically, such synchronised growth may point to deliberate accumulation or distribution by whales, who often move large sums during pivotal market shifts. Whales Go Long On XRP Ahead Of Potential Surge

New reports from analysts indicate that XRP whale activityis back in full swing, with specific holders going long just days after the cryptocurrency network surged past $1 billion in transfer volume. Multiple long positions totalling over $3.8 million have been opened at a price point near $3.44, raising speculation that deep-pocketed investors may be acting on insider-level confidence.  Source: KingXRP on X

KingXRP, an analyst on X social media, revealed that a whale recently entereda $1.52 million long on XRP, just as buzz grows around the impending RealFi integration that could enable the XRP Ledgerto unlock a massive $650 trillion market.

Related Reading: XRP Open Interest Just Hit A Fresh ATH Above $10 Billion, Will Price Follow Next?

Adding fuel to the hype, Radar, another market expert, reportedthat two additional whale-sized positions, worth $1.02 million and $1.31 million, were opened within the same price range. This move signals a clear shift in whale sentiment, suggesting increased confidence in XRP’s breakout potential.  XRP trading at $3.55 on the 1D chart | Source: XRPUSDT onTradingview.com Featured image from Getty Images, chart from Tradingview.com