XRP Blasts to $1.30: Here’s Who Is Fueling Ripple’s Price Rally

It was just days ago when we were speculating whether Ripple’s cross-border token would decisively lose the $1.00 support and how low it could go. Analysts outlined the first targets, ranging from $0.90 down to $0.60.

The situation changed, though, in a very impressive manner. Bitcoin skyrocketed and took the entire market with it. Interestingly, XRP took the main stage yesterday, and it rocketed to $1.30 for the first time in months, after gaining 30% from that low. Here’s what analysts are saying now.

Who Is Driving The Run?

The most obvious answer comes from whales. As reported yesterday, this highly vital part of every token’s ecosystem went on a tear, accumulating more than 300 million tokens in 96 hours, leading to a massive price explosion to $1.30. Before that, they had scooped up another 72 million coins at the end of last week in just a day.

Data shared by Vincent Van Code on X confirms this narrative. The market observer outlined “what is REALLY going on” within the XRP ecosystem, indicating that 53% of all sizeable buy orders were from LARGE players, followed by 35% from medium traders, and small investors accounted for just 12%.

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