XRP sees highest “whale” activity ever as 7-day price surges nearly 100%

• XRP has seen a significant price increase, rising by 430% in the last 30 days, reaching levels last seen in 2018.

• There has been an unprecedented movement of XRP by large holders (whales), with data from CryptoQuant indicating high whale activity over the last month.

• However, this whale activity could be a sign of potential market highs.

XRP prices have surged 430% in the last 30 days, reaching price levels last seen in 2018 and surprising numerous Crypto Twitter traders with the strength. The surge began in early November after the Republican victory in the US election revived investor confidence in tokens linked to US companies, including XRP-linked Ripple Labs.

Large shareholders are making a significant contribution to this step. Data from CryptoQuant shows that whale activity – which tracks movements of major wallets to and from exchanges – has increased steadily since last month, several times higher than any other period.

XRP’s Whale Activity (CryptoQuant)

Whales can move markets with their buying or selling pressure, and tracking this pressure can provide insight into market sentiment.

For example, if the inflow of cryptocurrency into exchanges (exchange inflows) is significant, it could indicate that whales are preparing to sell, potentially indicating a bearish market trend. Conversely, large outflows from exchanges could indicate accumulation by whales, which could be bullish.

However, such whale moves tend to coincide with local spikes, CryptoQuant contributing analyst Woominkyu said in a post on Monday, as sophisticated participants sell on retail inflows.

“Historically, significant spikes in whale-to-exchange transactions (marked by red circles) closely correlate with XRP price spikes,” Woominkyu explained. “This suggests that whales tend to transfer large amounts of XRP to exchanges to sell near local or cyclical highs.”

“The recent surge in whale-to-exchange activity coincides with XRP reaching a local price of around $2.3. This could indicate that whales are preparing for possible profit-taking or increased market activity,” Woominkyu added.

According to data from CoinDesk, XRP is up 14% in the last 24 hours, outperforming Bitcoin and all other crypto majors. The token flipped Solana’s SOL and Tether (USDT) in quick succession over the weekend and, as on Tuesday, was the third-largest token by market capitalization.