Ripple Whales Make $228M Purchase: When Will XRP Price Rally Begin?

Ripple-backed XRP has been consolidating between $0.52 and $0.60 since mid-July. With a fully diluted valuation of approximately $58.6 billion and an average daily trading volume of $1.5 billion, the large-cap altcoin has faced strong resistance from a long-standing macro falling logarithmic trendline.

Although Ripple’s legal battle with the SEC recently concluded with the company being ordered to pay a $125 million civil penalty, XRP’s price has struggled to break through the key resistance at around $0.66. Despite the positive news, the altcoin has been unable to capitalize on broader bullish sentiment in the crypto market.

Why Is XRP Price Lagging?

The Federal Reserve’s interest rate cuts triggered a broader crypto rally, pushing Bitcoin above $63,000 and Ethereum past $2,550. However, XRP has failed to follow suit, remaining stuck in its consolidation phase.

Investors are eagerly awaiting a breakout as Ripple pushes forward with its XRPL development plans, which include the integration of smart contracts and a Web3 infrastructure. 

It’s Looking Bullish Hereon!

On-chain data from Santiment shows that XRP whales have been actively accumulating, purchasing over 380 million XRP tokens—worth more than $228 million—over the past ten days. This surge in whale activity signals strong investor confidence in the altcoin’s future price potential.

Adding to this bullish outlook, Grayscale Investments announced that its newly launched Grayscale XRP Trust is now open to accredited investors. As of today, the trust has approximately $689,000 in total assets under management, further fueling speculation of a future XRP price rally.

XRP Breakout Incoming?!

Prominent Ripple enthusiast and crypto analyst, Egrag Crypto, has pointed out that XRP is poised for a significant price surge, citing Elliott Wave analysis. According to him, the altcoin has been building momentum in the fourth Elliott Wave for months.

The analyst also highlighted that XRP has maintained strong support around the 1.618 Fibonacci extension on the monthly chart, setting the stage for the next major rally.

XRP/BTC Pair Retests Lows

XRP’s BTC pair has recently retested multi-year lows, positioning the altcoin for potential gains against the US dollar in the near term. With the US dollar index weakening, the ongoing macro crypto bull run could provide the perfect environment for XRP to finally break out of its current range.

Also Check Out: Top 10 Reasons Why Altcoins May Beign a Monstrous Rally—Have You Capitalized on Altcoin Bottoms?

Will XRP’s time to shine finally come?