XRP News Today: XRP Surges 26% as Whale Activity Hits All-Time High

XRP, the cryptocurrency associated with Ripple, has seen a significant surge in both price and whale activity. The number of large XRP holders, or "whales," has reached an all-time high, with over 2,700 wallets now holding at least one million tokens. This accumulation trend suggests a bullish sentiment among major investors, potentially signaling further price increases.

The price of XRP has jumped by 26% in just one week, reaching $2.80. This price movement has been driven by a combination of factors, including a broader rally across the crypto market and key developments related to Ripple. The surge in whale activity coincides with a wider market rally, where Bitcoin and Ethereum have also seen significant gains. This momentum could indicate the start of a new altcoin season, where investors shift profits from Bitcoin into smaller-cap tokens like XRP.

Ripple's recent legal developments have also contributed to the bullish sentiment. The company has decided to drop its cross-appeal against the U.S. Securities and Exchange Commission (SEC), and it appears the SEC will likely do the same. This move brings more clarity to XRP's future, as the legal uncertainties surrounding the cryptocurrency begin to dissipate. Additionally, RippleX, the development arm of Ripple, has released version 2.5.0 of the XRP Ledger, introducing major upgrades such as multi-purpose tokens, stablecoin support, and enhanced escrow capabilities. These technical advancements have spiked user interest, with daily active addresses on the XRP Ledger increasing significantly.

The record high in the number of whale wallets holding XRP is a clear indicator of growing institutional interest. With 2,743 wallets each holding over 1 million XRP, these whales control nearly half of the total supply in circulation. This substantial influence highlights the potential for further price movements as these large holders continue to accumulate XRP. The combination of legal clarity, technological upgrades, and institutional investment positions XRP for continued growth in the coming weeks and months.