XRP Whales Go On A Hoarding Spree, New Users Enter Network Amid Iran Ceasefire Optimism

Whales are increasingly loading up on XRP (CRYPTO: XRP) as signs emerge that geopolitical tensions may de-escalate.

Whales Sensing Something Bullish?

Widely followed cryptocurrency analyst Ali Martinez highlighted in an X post that large investors scooped up 71 million XRP tokens over the past week. At the prevailing prices, this amounted to $96.56 million

Accumulation picked up significantly on Tuesday and Wednesday, just as President Donald Trump announced that negotiations to end the war with Iran were in their "final stages."

New Addresses Soar

Meanwhile, on-chain analytics firm Santiment reported the fourth-largest spike in new XRP wallet creations this year, signaling robust network growth.

“Network growth is among the top leading signals to identify reversals,” Santiment added.

Futures Traders Positioned Long

The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price,  typically the 12-period and the 26-period, flashed a “Sell” signal for XRP, according to TradingView.

On the other hand, the Commodity Channel Index, which measures the difference between the current price and the historical average price of an asset, signaled a “Buy.” The Relative Strength Index hovered in the “Neutral” territory.

Sentiment among Binance derivatives traders was "extremely bullish," according to Coinglass, with both retail users and whales heavily favoring long positions over shorts.

Price Action: At the time of writing, XRP was trading at $1.36, down 0.42% over the last 24 hours, according to data from Benzinga Pro. Year-to-date, the coin has plunged 26%.

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