There was a time when XRP was experiencing a downtrend. The investors were not able to do much to support the digital asset. Despite their strong buying efforts, the price of the asset was not moving upward.

XRP has Turned Bullish

Surprisingly, the price of XRP has started moving in bullish territory. The data suggests that the value of the asset has started experiencing an upward trend.

The data shows that the value of the asset has been increasing in worth for a while now. According to the analysts, the year 2023 is proving to be quite fortunate for XRP.

The price of the asset has continued surging since the beginning of 2023. It’s been almost two weeks since the price of the asset has been pumping.

The asset has been recording a bullish momentum for a while and the bulls are hoping that the trend will continue. This is a positive sign for XRP and it is mainly because the bulls are not losing hope in the trend.

So far, the price movement of XRP has been phenomenal and the bulls want to continue with it. Many expect that the value of the asset is going to grow higher with the strong buying input of the bulls.

Whales are playing a Huge Role

While the performance and the dedication of the buyers are being praised, it is the whales that are stealing the show with their contribution.

The whales have become very active when it comes to XRP. They have been moving XRP tokens here and there which has resulted in spiking the trading volume of the asset as well.

It is the constant moving of XRP tokens by the whales that is the main reason behind the rising price of XRP.

The price of the asset has been surging and no matter where the input is coming from, everyone is benefitting from it.

WhaleAlert, a whale activity tracking platform in the crypto-blockchain industry has recently shared its findings about the XRP whales.

The platform has claimed that in the past 24-hours, the whales have moved a gigantic number of XRP tokens. The report claims that the XRP moved were more than 400 million.

At the time of writing, the total number mentioned translates to $154 million worth of XRPs. Out of the total 400 million XRP tokens, the largest transaction that took place for XRP was 262.3 million XRP.

The largest batch mentioned that was moved by the whales in the past 24-hours translates to $97 million.

WhaleAlert has mentioned that 86.8 million XRP tokens were accumulated in a number of transactions. Out of the mentioned XRP, 45.8 million XRP tokens were accumulated by a single whale.

The 45.8 million XRP tokens translate to $17.1 million. The particular transaction had originated from the Bitso cryptocurrency exchange.

XRP Price Movement

Due to the recent movement of the enormous number of XRP tokens, the price of the asset has started moving in an upward direction.

The investors seem to have found their long-lost confidence and they are now spending more money on accumulating XRP in the form of large batches.

This is a massive thing for XRP and the bulls are taking full advantage of it. On the other hand, the whales are aware of their actions and they know that the price of XRP will move higher.

Therefore, they have already accumulated large batches of XRP so they can benefit from them in the future.

The recent movement recorded has helped push the trading price of XRP by 3% in the past 24-hours. Due to the jump, the trading price of XRP has moved to a high of $0.377.

In the past 24-hours, the trading volume for XRP has also surged to $1.08 billion and its valuation has surged over $19 billion as well.