The move comes despite lingering caution following Ripple co-founder Chris Larsen’s recent $200 million token transfer.
According to U.Today, large holders purchased over $415 million in XRP within a single day, absorbing bearish pressure and consolidating supply.
On-chain data reveals 2,743 wallets now hold over 1 million XRP each, collectively locking up 47.32 billion tokens. This reduction in liquid supply has offered price stability amid volatility fears.
The accumulation followed Larsen’s sell-off and appears to reflect increased institutional and whale confidence in XRP’s long-term positioning, especially as U.S. regulatory concerns ease.
On the technical side, XRP continues to hold above the crucial $3.10 pivot, showing resilience even after being rejected at the $3.28 Fibonacci resistance. The RSI sits at 60.39, leaning neutral-to-bullish, while the MACD is nearing a bullish crossover. Analysts are watching closely for a golden cross between the 9-day and 26-day moving averages—a signal that could open the door toward a move to $3.34 and beyond.
Trading activity on Korean exchanges has spiked significantly. Upbit’s XRP/KRW pair alone accounted for 14% of the platform’s $3.2 billion daily volume, according to Coincu. This signals strong retail interest and FOMO (fear of missing out) among South Korean investors.
With the Altcoin Season Index up 115% in 30 days, XRP’s outperformance highlights the asset’s unique positioning as a regulatory rebound and technical breakout candidate.
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