XRP’s price surged 12% in a day with data showing whales have been accumulating the asset in significant volumes, speculation around an ETF listing in the US and optimism toward President-elect Donald Trump’s looming inauguration. 

“XRP investors are pleased to see the #3 market cap asset reach $2.69 today for the first time since Dec. 17, 2024,” crypto analysis firm Santiment said in a Jan. 14 X post.

At the time of publication, XRP had surged further, trading at $2.83, a price not seen since early 2018, according to CoinMarketCap data.

XRP whale accumulation is gaining momentum

Santiment said that XRP’s (XRP $2.85) price increase could be attributed to the “continued enormous accumulation” from wallets holding between 1 million and 10 million XRP tokens.

The analysis firm said that since Nov. 12, the cohort had accumulated 1.43 billion XRP tokens, marking an increase of about 37.4%.

Chart

XRP whales have been accumulating aggressively since November 2024. Source: Santiment

Onchain protocol Derive’s head of research, Sean Dawson, told Cointelegraph that XRP’s strong momentum is “most likely due to a possible XRP ETF listing sometime this year.”

Dawson said that as Bitcoin (BTC $97,155) “gets bought up,” investors may be inclined to rotate capital into altcoins like XRP, further “fuelling bullish sentiment.”

Blockchain-focused media company Gokhshtein Media founder David Gokhshtein said in a Jan. 15 X post, “XRP holders deserve this.” 

XRP’s price saw tight consolidation throughout 2024, with the price difference between Jan. 17 and Oct. 17 being just 3.8%.

SEC deadline to file an appeal cited as “another factor”

“XRP’s legal battles with the SEC could also come to a head this year in the former’s favor,” Dawson added.

Dawson said while he expects the SEC to appeal the case, it will be against a backdrop of “pro-crypto sentiment” in the White House and “will likely trickle down to SEC appointees and their subsequent enforcement.”

Meanwhile, banking giant JPMorgan projected that Solana SOL $189.90 and XRP ETPs may eclipse the performance of spot Ether ETH $3,234.20 ETFs in their first six months of trading.

“When applying these so-called “adoption rates” to SOL and XRP, we see SOL attracting roughly $3 billion-$6 billion of net assets and XRP gathering $4 billion-$8 billion in net new assets,” JPMorgan said in a Jan. 13 report.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Recommended content


Recommended Content

Editors’ Picks

Why Solana, XRP, Dogecoin and BNB are crashing?

Why Solana, XRP, Dogecoin and BNB are crashing?

Solana (SOL), XRP, Dogecoin (DOGE) and Binance Coin (BNB) decline on Tuesday. Top altcoins ranked by market capitalization are in a downward trend, even though Bitcoin (BTC) continues to consolidate around the $95,000 level. 

More Cryptocurrencies News
Bitcoin Price Forecast: BTC consolidates as options market awaits policy clarity

Bitcoin Price Forecast: BTC consolidates as options market awaits policy clarity

Bitcoin (BTC) has been consolidating between $94,000 and $100,000 for nearly two weeks, with reports from Bitfinex indicating increased macro-correlation and maturity as a risk asset.

More Bitcoin News
Real-World Assets outperform the AI sector in the crypto market over the past month

Real-World Assets outperform the AI sector in the crypto market over the past month

Real-World Assets (RWAs) outperformed the Artificial Intelligence (AI) sector in the crypto market over the past month, with a weighted average gain of 15.6% in January. 

More Cryptocurrencies News
Storj Price Forecast: Bulls aiming for double-digit gains

Storj Price Forecast: Bulls aiming for double-digit gains

Storj (STORJ), an open-source platform that leverages the blockchain to provide end-to-end encrypted cloud storage services, continues to trade higher by 4.4%, around $0.39 on Tuesday after rallying 5% the previous day.

More Cryptocurrencies News
Bitcoin: BTC consolidates before a big move

Bitcoin: BTC consolidates before a big move

Bitcoin price has been consolidating between $94,000 and $100,000 for the last ten days. US Bitcoin spot ETF data recorded a total net outflow of $650.80 million until Thursday.

Read full analysis
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

BTC

ETH

XRP