XRP Whales Bag Over 90 Million Coins, Something Big Incoming?

XRP whales have shown no signs of slowing down their accumulation spree as they continue to load up coins. Over the last 72 hours, whales have bought over 90 million XRP as the ecosystem braces for an announcement that could send prices on a rally.

XRP Whales Accumulate 90 Million XRP Valued At Nearly $250 Million

Onchain analyst Ali Martinez has identified significant whale activity in XRP’s ecosystem in the build-up to the White House Crypto Summit. In the last three days, XRP whales have purchased over 90 million XRP in a massive accumulation spree.

The total value of the XRP whales’ purchase stands at nearly $250 million, reversing a mass XRP whale dump at the end of February. The recent whale accumulation follows a raft of positive metrics for XRP as investors ready themselves for a rally-inducing bull run.

Apart from the recent purchases, XRP whales have transferred over $5 billion worth of coins between addresses during the week. Furthermore, XRP’s active addresses have surged to 462,000 from lows of 74,589 as the plot thickens.

On the flip side, there are fears that the accumulation may be a classic “pump and dump” ahead of the White House Crypto Summit.

Is Something Big Incoming For XRP

While on-chain indicators are largely positive for XRP, recent fundamentals are pointing to incoming positives for the ecosystem. The inclusion of XRP in the Crypto Strategic Reserve signals regulatory acceptance for the project in Washington.

For now, the biggest announcement for XRP will be the dismissal of its long-running case against the US SEC. Recent high-profile SEC case dismissals have fuelled speculation that Ripple Labs is next in line for the shuttering of its case.

Furthermore, there are whispers that Ripple co-founder Brad Garlinghouse may be tapped for a government appointment. The community are hinging their theories on Garlinghouse’s invitation to Friday’s White House Crypto Summit.

XRP whales and the rest of the community expect the policy discussions to the summit to be largely bullish for the embattled project. At the moment, XRP is exchanging hands at $2.60, rising by 5% over 24 hours buoyed by growing optimism.

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