XRP Price Activity Supported by Whale Accumulation and ETF Inflows
Data from CryptoQuant on December 2 highlights a spike in XRP velocity to 0.0324, the highest level in 2023, indicating increased on-chain activity. Significant accumulation by whales—entities holding between 100 million and 1 billion XRP—occurred over several days, with around 620 million XRP purchased, valued at approximately $1.36 billion at current prices. Whale-to-exchange flows hit yearly lows in October, November, and December, suggesting whales are retaining their holdings rather than selling.
ETF clients also bolstered XRP demand by adding $50.27 million, raising ETF-held assets to $906.46 million. XRP is trading near $2.13 but has faced resistance at the $2.20 level, with the possibility of advancing to targets near $2.30 and $2.50 if it breaks above this resistance. Conversely, failure to breach $2.20 could see prices retreat toward the $2.00 support level.
Additionally, Bitcoin Hyper, a momentum driver, is currently in presale, having raised over $28.9 million, with staking offering 40% annual percentage yield (APY).
