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A notable increase in non-zero wallets and whale transactions has marked the ongoing impressive $XRP price surge.
Over the past two months, non-empty $XRP wallets have grown by 511,430, while whale transactions exceeding $100,000 reached 2,365. These improved on-chain metrics emerged amid $XRP’s ongoing attempts to break into a price discovery phase, reaching a 7-year high of $3.39 yesterday.
Although the price has since retraced to $3.33 at this time, it still shows an 8.70% increase over the past 24 hours. Over the past week, $XRP has gained 45.28%, reinforcing its bullish momentum.
In light of this price surge, Santiment data shows rising whale transactions and a sharp increase in non-empty wallets. This suggests large-scale investor interest and new retail participants are driving the movement.
Whale Activity at a Six-Week High
According to a Santiment post on X, whale transactions above $100,000 have surged, indicating heightened large-scale investor activity. A notable spike recorded 2,365 whale transactions within just an eight-hour window, the highest since December 3.
Meanwhile, $XRP’s total number of non-empty wallets has increased by 511,430 over the past two months. The current holder count of $XRP stands at 5.93 million, indicating either new retail participation.
Price Projections for $XRP Amid Whale Activities
Adding to the bullish narrative, an analysis shared by Ali Martinez highlights a powerful breakout from a symmetrical triangle pattern that formed since 2018.
This pattern, consisting of lower highs and higher lows, indicates a prolonged period of price compression. Breakouts from symmetrical triangles often lead to substantial price moves.
According to Martinez, the measured move target from this breakout suggests a potential $XRP price rise to $15. If achieved, this would represent a 350.45% increase from the current price level of $3.33.
Earlier, Martinez had set a price target of $10 for $XRP, taking a long-term view. In particular, he confirmed that he opened a long position at $2.48. The analyst noted that while buying at $3 could still be viable, lower entry points would yield greater returns.
While he acknowledged the possibility of a retracement to the breakout zone around $2.40, he indicated that he would consider adding to his position if the price reached that level.
Meanwhile, Martinez emphasized monitoring the market with stop-loss strategy adjustments as the situation develops.