XRP Resumes Its Rally! So What Is the Reason for the Rise? Santiment Explained!

There has been a recovery in Bitcoin (BTC) and altcoins in the last two days, albeit limited. Bitcoin has surpassed $97,000, and there have been small increases in altcoins as well.

However, XRP stood out positively from the market and made headlines with a 12.8% increase in the last 24 hours. While the reason behind this rise is being wondered, Santiment stated that the rise in XRP is backed by whale accumulation and ETF speculation.

Crypto analysis company Santiment attributed the recent price increase of XRP in the uncertain crypto market to several factors, and said the most important was the significant accumulation of wallets holding 1-10 million XRP.

"XRP investors are pleased to see XRP, the third largest cryptocurrency, reaching $2.69 today for the first time since December 17, 2024.

This rise is supported by the ongoing tremendous accumulation of wallets holding 1 million-10 million XRP.

These wallets now hold over 37% more XRP than two months ago, adding approximately 3.8 billion dollars of XRP since their accumulation began on November 12, 2024.

In addition to Santiment, Sean Dawson, research director of the off-chain protocol Derive, also commented on the rise of XRP.

Dawson said that the expectation of a XRP ETF launch in 2025 is increasing, stating that this expectation is supporting the rise.

Dawson also noted that the rising expectation that XRP's legal battle with the SEC could end in favor of Ripple is also influential in the surge.

While expectations for XRP ETF approval are increasing, banking giant JPMorgan predicts that XRP ETF could attract 4-8 billion dollars in inflows.