XRP Whale Wallets Gather Two Days Before 67% Surge..."Swept Up When Retail Investors Were Unaware"

▲ XRP, Cryptocurrency Whale / AI Generated Image

Just two days before XRP surged by 67%, 85 new large wallets holding over 1 million XRP appeared.

According to crypto media outlet The Crypto Basic on September 16 (local time), on-chain analytics firm Santiment stated that the number of large XRP holding wallets rapidly increased just before the August surge. After 85 new wallets holding over 1 million XRP appeared, XRP rose by 67% from August 17 to 21. Analysis suggests that the accumulation by large holders reduced the circulating supply and increased buying pressure.

The expanded use of the XRP Ledger was also presented as a positive trend. Santiment explained that Ripple is supporting the RLUSD credit fund, which lends funds to fintech and payment companies using the XRP Ledger. It also pointed out that Ripple's investments in ZILO and Licuido are expanding financial service areas such as tokenization and asset transfers. However, it drew a line, stating that the increase in large wallets and the expansion of institutional projects do not guarantee an increase in XRP price.

In technical analysis, a cautionary view emerged. Cryptocurrency analyst Casi analyzed that XRP falling below the Fibonacci 0.5 retracement line invalidated the previous upward forecast of $1.78. To regain an upward trend, it needs to cross the Fibonacci 0.618 retracement line, located at approximately $1.65, again.

If the downtrend continues, $1.10 was presented as a key support level. Casi predicted that if further declines intensify, $0.87 could also emerge as a major price level. Conversely, when a new uptrend begins, whether buying pressure enters around $1.10 was explained as a criterion to gauge the strength of the recovery.

Santiment evaluated that the increase in large XRP wallets, RLUSD activity, and the expansion of institutional projects are factors that will support the XRP Ledger ecosystem for the remainder of 2026. On the other hand, Casi maintained the stance that downside risk should be watched until $1.65 is recovered. On-chain, whale accumulation was confirmed, but in terms of technical trends, conflicting signals appeared, indicating that a recovery of key resistance levels is needed.

[Article Key Summary]

- 85 new wallets holding over 1 million XRP appeared two days before XRP surged by 67%.

- Santiment evaluated the increase in large wallets, RLUSD, and the expansion of institutional projects as positive trends for the XRP Ledger.

- Casi analyzed that if XRP fails to recover $1.65, $1.10 and $0.87 could emerge as major lower price levels.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*