- Whale wallets accumulated 120M XRP during the recent price market dip.
- SEC dropped Ripple case, signaling clearer rules for XRP investors.
- XRP stabilized at $3.10–$3.20, forming strong technical support zone.
XRP whale activity has risen sharply in recent days. Data from Santiment showed that wallets holding between 1 million and 10 million XRP accumulated about 120 million tokens during the recent decline.
Market analyst Ali Martinez said this buying spree reflected renewed confidence among these large holders. Analysts view whales as influential in shaping market sentiment.
The data indicated a noticeable uptick in whale holdings beginning around August 8, coinciding with price fluctuations. Despite short-term moves, accumulation patterns suggested whales were positioning for potential price gains.
Martinez noted that such strategic buying often occurs when prices consolidate, allowing large investors to expand exposure before expected rallies.
SEC Case Closure Shifts Regulatory Outlook
In a major regulatory update, SEC Chair Paul Atkins announced plans to modernize crypto rules. The agency has dropped its case against Ripple, removing a long-standing legal challenge to XRP in the United States.
Analyst X Finance Bull described this development as a win for both Ripple and the wider crypto market. The decision is expected to improve market clarity and encourage further adoption of digital assets.
Analysts suggested that clearer guidelines attract more institutional participants. The regulatory shift, combined with ongoing whale accumulation, has strengthened investor interest in XRP.
Price Action Shows Bullish Structure
Ripple’s XRP has maintained bullish momentum over the past few months. The daily chart against USDT showed prolonged consolidation from March to mid-June.
A breakout in late June drove prices from around $2.20 to above $3.60 in late July. Following this rally, the market saw a healthy pullback, with stabilization in the $3.10–$3.20 range. This area has emerged as a support zone.
At the time of reporting, XRP traded at $3.11384, up 1.09% on the day. Analysts noted that sustained support at current levels could lead to a push toward the recent highs. The combination of technical strength, whale accumulation, and regulatory clarity has reinforced bullish market sentiment.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
