XRP Whales Accumulation Intensifies as Market Influencer Bark Encourages Investors to Buy the Dip

Strong signs of accumulation of XRP by Ripple whales abound after reports emerged that some 40 million tokens had been bought in the market's recent price drop.

Recent market activity has shown a strong accumulation of XRP by Ripple whales, following reports that around 40 million tokens were bought during the recent market dip.

As crypto volatility continues to gain attention with sharp price movements, this buying activity by XRP whales suggests that many investors may have taken advantage of the lower prices, optimistic about the currency's long-term prospects.

Recent XRP Price Action

XRP's price has seen active trading in the markets, with the token's value fluctuating. After losing significant ground, the Ripple token recovered on Tuesday, December 24, rising by about 6% to reach $2.31. During the day, it hit a high of $2.32 and a low of $2.14.

This rebound occurred despite a 32.73% decrease in 24-hour trading volume, which reached $7.61 billion. However, according to Coinglass statistics, XRP futures open interest saw a substantial increase of 52.47% to reach $2.64 billion, indicating growing confidence in the market.

Furthermore, Ripple's Chief Legal Officer, Stuart Alderoty, recently called for an end to the four-year legal battle with the U.S. Securities and Exchange Commission (SEC). This ongoing lawsuit is a key focus for investors, influencing sentiment regarding XRP's price trajectory.

In addition to the whale accumulation, there was significant on-chain activity, with over $132 million of XRP being moved across wallets, as reported by CNF. Recent updates from market analysts, including crypto expert Ali Martinez, highlighted these movements.

Martinez pointed out that the whales' buying spree signaled a bullish outlook for the token.

Where Next for Ripple Token?

Amidst this accumulation, leading market influencer Bark on X encouraged investors to keep adding XRP to their portfolios. He recently shared a prediction that the token could reach $3.5, boosting optimism among traders.

He also mentioned that XRP was set for massive gains in 2025, contributing to the positive sentiment, as reported by CNF.

Regulatory developments also remain in the spotlight. As Donald Trump prepares to assume office on January 20, there have been discussions regarding his administration's approach to cryptocurrency regulation in the U.S.

Speculation has emerged that an XRP exchange-traded fund could potentially be approved, which would strengthen the token's market standing.

In other news, Ripple's RLUSD stablecoin was recently listed on Singapore's Independent Reserve exchange for the first time. This move could indicate Ripple's expansion into global markets and its contribution to the XRP price momentum.