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After the news of Gary Gensler stepping down in January, $XRP is witnessing explosive activity, with Ripple whales adding over 250 million tokens to their holdings in just a short period. Amid this buying spree, $XRP’s price has surged, and the futures market is breaking records—topping $2.50 billion in open interest. The market is booming with news of the IPO launch and $XRP ETF’s arrival in Q1 of 2025, if regulations take a back seat for $XRP. Investors are waiting for a mega rally.
Let’s break down the latest developments and what they mean for $XRP’s future.
Whales Accumulate $XRP Amid Bullish Sentiment
Ripple whales have been on a buying spree, accumulating millions of $XRP over recent days. According to Santiment, over 250 million tokens were purchased during a market dip, fueling a strong 200% rally this month. Whale alert reported a series of transfers that saw 149 million $XRP worth $227 million move from Bybit to a private wallet, while another whale scooped up 20 million $XRP from South Korea’s Upbit exchange.
The bullish behavior doesn’t stop there. On-chain data also tracked 58 million $XRP—valued at $87 million—being moved from Binance to a whale wallet. This massive accumulation signals confidence in $XRP’s long-term prospects, with traders like Ali Martinez pointing to the strategic accumulation as a key indicator that whales are expecting more upside.
$XRP Futures OI Hits Record $2.5B
Ripple’s futures market is buzzing, with open interest (OI) now surpassing $2.5 billion. This milestone is an indication that investors are bullish on $XRP’s future. The increase in futures OI, particularly on platforms like Binance and Bybit, shows that traders are putting their faith in $XRP’s price movement. As of the latest data from Coinglass, the futures OI stands at 1.59 billion $XRP, a testament to growing investor interest.
This surge in open interest aligns with $XRP’s recent 4% price jump, currently trading around $1.51. The 24-hour high and low of $1.54 and $1.31 indicate that market volatility is increasing, and with a 24% rise in trading volume, it’s clear that traders are jumping in on the action.
What’s Next for $XRP?
Following the bull run, analysts are setting their targets on $2 in the short term, with some predicting that $XRP could climb as high as $20 in the longer run. The bullish sentiment was backed by $XRP’s 200% explosion in just three weeks, hitting $1.51 on November 25. For the first time since April 2021, it’s on track to close with its biggest monthly candlestick. The RSI is also above 70%, signaling a major bullish push ahead. Even more exciting, the $XRP/$BTC pair has bounced back big time, more than doubling in value. With Bitcoin’s dominance showing signs of slowing down, $XRP looks set to outshine $BTC in the coming months.
As of now, $XRP is trading at $1.43, and as per records and bullish technical factors, is $20 in sight? We will come to know.