XRP News Today: XRP Whale Activity Surges 231 Million XRP in 24 Hours

In a significant development for Ripple, whale activity for XRP has surged, with two major transactions totaling 231 million XRP, valued at approximately $809 million, occurring within a 24-hour period. This movement has sparked speculation about the future direction of XRP's price, as traders and analysts closely monitor the market for further cues.

On July 21, a whale that had been dormant for three years transferred 210,669,117 XRP, worth around $738 million, to a new wallet address. This transaction was followed by another transfer of 20 XRP from a Coinbase-linked wallet to the same address. At the time of the transfer, the wallet held over 210,669,137 XRP. This significant movement suggests strategic rebalancing, over-the-counter (OTC) deals, or positioning for new market events, rather than an immediate dump.

Additionally, another transfer of 20,000,000 XRP, worth over $71 million, was flagged by Whale Alert. This transfer originated from the largest crypto exchange in South Korea, Upbit, and the wallet held 789,127 XRP at the time of writing. Last week, it was reported that whales had accumulated 2.20 billion XRP over two weeks, triggering a massive rally in XRP's price.

The recent surge in XRP's price has been attributed to several factors, including increased buying pressure in South Korea and the anticipation of further partnerships and stablecoin adoption by institutional investors. Veteran trader Peter Brandt predicted that XRP's price could go parabolic, hitting multiple all-time highs in the coming months. As of now, XRP's market cap has climbed over $214 billion, with analysts predicting it could reach over $1.5 trillion by the end of 2026 if demand continues at the current rate.

Analysts have set various price targets for XRP. Dark Defender, a popular analyst within the XRP community, predicted that XRP could reach $5.85 by September and potentially hit an all-time high of $9.76 by the end of the year. Key support levels to watch are $3.40 and $3.20; if these levels are broken, XRP's price could correct below $3. CasiTrades also suggested $3.40 and $3.20 as potential retracement levels, noting that XRP was hovering right above the old highs, trying to flip $3.40 into support. If bulls hold this level and build a base here, the price could accelerate rapidly.

XRP's price performance has been impressive, with a 2% increase in the past 24 hours and a 20% increase over the past week. The price is currently trading at $3.56, with the 24-hour low and high being $3.42 and $3.58, respectively. The Relative Strength Index (RSI) has risen to 46, signaling potential for an upside move. However, the price is still below the 50-SMA, 100-SMA, and 200-SMA at the time of writing.