$XRP Ripple Whales Scoop Up 300M XRP, Signaling Bullish Surge

Between July 12 and 15, Ripple whales accumulated 300 million XRP tokens, a move typically viewed as bullish and indicative of potential further gains for XRP. Large investors with wallets holding between 10 million and 100 million XRP tokens added 300 million XRP. Another group with wallets holding between 100,000 and 1 million XRP accumulated 10 million tokens.

XRP gained nearly 3% on Monday, trading above $0.5500. It peaked at $0.56 on Saturday, July 16, and is currently trading at $0.5880. XRP recorded its highest weekly gains in 2024 over the weekend as holders celebrated the one-year anniversary of Judge Torres' ruling in the SEC vs. Ripple lawsuit.

The MACD indicator shows positive momentum with green histogram bars above the neutral line. XRP could potentially extend gains by another 13%, rallying to $0.6058, the 61.8% Fibonacci retracement of the decline from the March 11 high of $0.7440 to the July 5 low of $0.38.