Wavy whales buy 40 million coins, is it possible to get $3.5?

• The price of XRP saw a 6% rebound to $2.31 on December 24, along with a 52% increase in open XRP futures after massive whale purchases of the altcoin.
• Positive sentiment around XRP is being fueled by regulatory speculation, including the potential approval of an XRP exchange-traded fund (ETF).

Strong signs of XRP accumulation by Ripple whales abound after reports emerged that around 40 million tokens were purchased in the recent price drop in the market. Cryptocurrency volatility is gaining momentum these days as its value fluctuates in a sharp trend. Thus, buying by XRP whales may mean that many investors have benefited from the price decline as they remain optimistic about the long-term prospects of the coin.

Recent XRP price movement

The price of XRP has seen heavy trading in the market, although its price has seen fluctuations. After losing significant value, the Ripple token recovered nearly 6% to reach $2.31 on Tuesday, December 24. During the day, it reached a high of $2.32 and a low of $2.14.

The rebound came despite a 32.73% drop in 24-hour trading volume to $7.61 billion. However, according to Coinglass statistics, the open interest of XRP futures increased by a whopping 52.47% to $2.64 billion, which means that confidence in the market is on the rise.

Furthermore, Stuart Alderotti, Ripple’s chief legal officer, recently urged an end to the four-year-old lawsuit with the US Securities and Exchange Commission (SEC). This legal battle is a pivotal point for investors, affecting sentiment regarding the XRP price path.

In addition to the whale pile-up, there was significant on-chain activity, with over $132 million worth of XRP moving across wallets. I mentioned Knf. Market analysts, including cryptocurrency expert Ali Martinez, have highlighted these movements in recent updates. Martinez stressed that the whale buying spree indicates bullish expectations for the premium currency.

What’s next for Ripple token?

In this accumulation, leading market influencer Bark on X encouraged investors to continue adding XRP to their portfolios. He recently posted a prediction that the token will reach $3.5, which has increased optimism among traders. He also stated that XRP is poised to make massive gains in 2025, reinforcing positive sentiment, I mentioned Knf.

Regulatory developments are also in the spotlight. This week, Donald Trump takes office on January 20, and there has already been a lot of talk about it being a pro-crypto regulatory environment in the US. Speculation is now that an exchange-traded XRP fund may be approved, which would serve to strengthen the token’s market position.

In other news, Ripple’s stablecoin RLUSD was recently listed on the Independent Reserve Exchange in Singapore for the first time. It has been interpreted as an indication of Ripple’s expansion into global markets and its potential contribution to XRP’s price momentum.

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