A notable increase in non-zero wallets and whale transactions has marked the ongoing impressive XRP price surge.
Over the past two months, non-empty XRP wallets have grown by 511,430, while whale transactions exceeding $100,000 reached 2,365. These improved on-chain metrics emerged amid XRP’s ongoing attempts to break into a price discovery phase, reaching a 7-year high of $3.39 yesterday.
Although the price has since retraced to $3.33 at this time, it still shows an 8.70% increase over the past 24 hours. Over the past week, XRP has gained 45.28%, reinforcing its bullish momentum.
In light of this price surge, Santiment data shows rising whale transactions and a sharp increase in non-empty wallets. This suggests large-scale investor interest and new retail participants are driving the movement.
Whale Activity at a Six-Week High
According to a Santiment post on X, whale transactions above $100,000 have surged, indicating heightened large-scale investor activity. A notable spike recorded 2,365 whale transactions within just an eight-hour window, the highest since December 3.
Meanwhile, XRP’s total number of non-empty wallets has increased by 511,430 over the past two months. The current holder count of XRP stands at 5.93 million, indicating either new retail participation.
XRP whale activity chart by Santiment
Price Projections for XRP Amid Whale Activities
Adding to the bullish narrative, an analysis shared by Ali Martinez highlights a powerful breakout from a symmetrical triangle pattern that formed since 2018.
This pattern, consisting of lower highs and higher lows, indicates a prolonged period of price compression. Breakouts from symmetrical triangles often lead to substantial price moves.
According to Martinez, the measured move target from this breakout suggests a potential XRP price rise to $15. If achieved, this would represent a 350.45% increase from the current price level of $3.33.
Ali Martinez XRP chart projecting $15
Earlier, Martinez had set a price target of $10 for XRP, taking a long-term view. In particular, he confirmed that he opened a long position at $2.48. The analyst noted that while buying at $3 could still be viable, lower entry points would yield greater returns.
While he acknowledged the possibility of a retracement to the breakout zone around $2.40, he indicated that he would consider adding to his position if the price reached that level.
Meanwhile, Martinez emphasized monitoring the market with stop-loss strategy adjustments as the situation develops.
