XRP Investors Begin Accumulation Spree, Renewing Hopes of a Price Rebound

Following its price drop to $3, XRP has seen renewed accumulation from whales and institutional investors. More than $519 million in XRP has been bought by investors in the last three days, leading analysts to speculate that a price rebound could happen soon.

XRP Accumulation Rises After Price Drop

The XRP price dropped to the range of $3 last week after Whale Alert shared a report about a transaction made by an old wallet controlled by Ripple worth more than $700 million. Irrespective of the plunge in the XRP price, the accumulation of the altcoin has become stronger.

In a 24-hour span, Ali Charts reported that whales bought over 130 million $XRP tokens worth over $400 million.

Over a three-day span, 163 million XRP worth around $519 million have been accumulated by investors. The growing institutional inflows could be key in the XRP recovery phase. The volume of XRP traded has also increased by 63 percent, according to CoinMarketCap.

More than 2,700 wallets currently hold over 1 million XRP, which points to the growing institutional interest. The Canada 3iQ XRP ETF has seen over $50 million of inflows within three weeks, demonstrating the tremendous desirability of regulated access to XRP.

An XRP Rally Could Be Around the Corner

The buying surge of XRP suggests that a wave of optimism is returning to the market. The fact that whales are purchasing the dip indicates that they are gearing up for a possible price rise. This build-up is bound to become a reversal catalyst that will send XRP to its ATH.

Another key indicator that shows a rally could happen soon is the NVT Ratio, which is used in evaluating cryptocurrency valuations. The NVT ratio of XRP has dropped to the lowest point in four months. It implies that XRP is not too hot and has the potential to grow.

In addition, the XRP exchange balance has taken a huge drop over the last week. Glassnode data shows that the total XRP balance on exchanges has dropped from over 4.37 billion to 4.275 billion over the last week. Whales moving XRP off exchanges is often a positive sign that comes before a price pump.

How High Can the XRP Price Go?

The XRP price has advanced 2.6% over the last 24 hours, trading between a low of $3.17 and a high of $3.32. According to GalaxyBTC, the XRP price rally could restart soon if it crosses the $3.35 resistance. XRP is already testing this level, and could break above this zone soon.

If this trend continues, Galaxy expects the price of XRP to skyrocket to a new ATH, with targets as high as $6. Two major events that experts believe can drive the high price of XRP are the potential approval of XRP ETFs and the new GENIUS ACT.

There are 11 XRP spot ETFs in the US waiting for approval, with many experts predicting that one will launch soon. XRP has been hinted to be one of the top crypto coins that will benefit from the clarity the regulation will bring, putting the altcoin in a position to experience a major rally.