XRP whales accumulate $30 million in 24 hours; Is $3 next?

Whales appear to be taking advantage of XRP’s recent downward momentum, scooping up the asset as it struggles to reclaim the $3 resistance. According to Santiment data shared on October 21, investors acquired over 30 million XRP tokens, worth roughly $74 million, in the past 24 hours. XRP whale transaction chart. Source: Santiment Wallets holding between 100,000 and 10 million XRP saw increased accumulation even as prices remained subdued, suggesting potential front-running of a larger move. Historically, such whale activity has often preceded XRP rallies, fueling speculation that $3 could be the next target. XRP treasury fuels whales activity The move coincides with Ripple, XRP’s parent company, working to establish a treasury for the asset. Evernorth Holdings, a Ripple-backed firm, plans to merge with SPAC Armada Acquisition Corp. II to raise over $1 billion, primarily to purchase XRP on the open market and build an institutional-scale treasury. Key investors include SBI Holdings, Pantera Capital, Kraken, GSR Markets, and Ripple co-founder Chris Larsen . At current prices, the fund could acquire about 435 million XRP, or 0.75% of the circulating supply. Analysts note that this buying could represent nearly 20% of daily market liquidity if executed over 90 days, potentially boosting prices. However, the impact will depend on how quickly and transparently the funds are deployed. XRP price analysis At press time, XRP was trading at $2.48, showing consolidation. On the daily chart, the asset is up almost 1%, with a similar gain on the weekly chart. XRP seven-day price chart. Source: Finbold XRP is trading below the 50-day simple moving average ( SMA ) of $2.83 but slightly above the 200-day SMA of $2.62, suggesting mixed market sentiment. The 14-day RSI stands at 42.32, indicating neutral conditions. Overall sentiment remains bearish, with the Fear & Greed Index at 34, signaling “Fear” and caution in the market. Featured image via Shutterstock The post XRP whales accumulate $30 million in 24 hours; Is $3 next? appeared first on Finbold .