• Ripple whales have accumulated over $1.8 billion worth of XRP tokens while the number of weekly active addresses increased by 200%.
• WisdomTree has filed an S-1 registration with the SEC for an XRP ETF.
• XRP investors from multiple cohorts made over $2.7 billion in profits in the last three days following massive Ripple token unlocking.
• XRP is aiming for a new all-time high at $3.57 after clearing the $2.58 resistance level.

Ripple’s XRP continued its rally on Monday with a 25% rise, extending its monthly gains to over 430%. Following the recent uptrend, the remittance-based token now ranks at number 3 among top cryptocurrencies, although there has been a mix of bullish and somewhat bearish investor action in recent days.

Important XRP updates to watch out for given the recent uptrend

According to Santiment data, XRP has seen increased buying activity from investors following its recent surge over the past three weeks.

Whales holding between 1 million and 10 million of the remittance-based token purchased 679.1 million XRP, now worth about $1.8 billion. This comes as the number of non-empty XRP wallets surpassed 5.5 million for the first time since launch.

XRP investors have also woken up as weekly active addresses on the

XRP supply distribution (1M-10M), weekly active addresses and holders | Santiment

The bullish view is also evident in the XRP Coinbase premium, which shows that US traders have likely fueled the recent price rise. In November, the exchange’s XRP premium ranged from 3% to 13%. However, Upbit, which has the largest XRP reserve, maintained a moderate reward level.

Meanwhile, asset manager WisdomTree filed an S-1 registration statement with the SEC for an XRP ETF on Monday, following an initial registration in the state of Delaware last week. With the latest filings, XRP has joined. Bitwise, 21Shares and Canary Capital.

This follows rumors that the New York government is approving Ripple’s stablecoin, which is circulating in several investment subgroups on the social media platform

However, market activity for XRP was not entirely in the green. After the latest price surge over the weekend, XRP investors made a profit of more than $2.7 billion – the most in eight years. This shows that despite the recent whale accumulation, investors are increasingly booking profits as they ride the wave.

XRP Network Realized Profit/Loss | Santiment

The “Mean Coin Age” metric, which measures investors’ accumulation/distribution activity, shows a downward trend across all age cohorts. This shows that selling activity among short-term and long-term investors has been consistent over the past three weeks.

Average XRP Coin Age | Santiment

Additionally, Ripple unlocked 500 million XRP tokens worth over $1.35 billion on Sunday as part of its escrow unlock system. If this supply hits the market immediately, the current bullish momentum will slow.

XRP bulls could target a new all-time high at $3.57

Ripple’s XRP broke through resistance at $2.58 on Monday, triggering more than $91 million in liquidations in the last 24 hours, according to Coinglass data. Liquidated long and short positions accounted for $38.67 million and $52.47 million, respectively.

XRP/USDT weekly chart

If XRP maintains the uptrend above the $2.58 level, it could rise to $3.57 to reach the maximum profit target of a rounded bottom pattern. The remittance-based token confirmed the pattern after rising above the $1.96 mark last week.

The bullish momentum is reinforced by XRP futures open interest (OI) rising to a new all-time high of $4.24 billion on Monday.

Open interest is the total amount of outstanding contracts in a derivatives market. An increase in OI during a price uptrend means new money is entering the market to support the bullish momentum.

Open XRP interest | Coin jar

The Relative Strength Index (RSI) has remained at an elevated level in oversold territory over the past week, suggesting that a correction is imminent due to overheated prices.

A weekly candlestick close below $1.96 will invalidate the bullish thesis.

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