XRP Price Returns Above $1.5 — On-Chain Data Says Whales Are Behind It

The XRP price was on the verge of dropping below $1 due to market volatility and bearish pressure, but it has since recovered. The altcoin fell to its lowest level since November 2024, reaching as low as $1.16, before bouncing back. According to crypto analytics firm Santiment, the XRP price recovery can be attributed to whale and network activity. On Friday, February 6, Santiment discussed the recent correction and recovery of the XRP price on social media platform X. The firm noted that despite strong volatility, XRP briefly reclaimed the $1.5 level, signaling a return of fresh buying momentum. Santiment data shows that a significant whale accumulation took place during the dip, with 1,389 $100,000 whale transactions occurring in a short period. Additionally, activity on the XRP Ledger has been on the rise, with a notable surge in unique addresses on the blockchain. The amount of unique addresses saw a significant increase to 78,727 in just one 8-hour candle, its highest level in approximately six months. With an uptick in whale demand and network activity, the XRP price could potentially build a foundation for a return to a bullish structure. The current price of XRP stands at around $1.46, reflecting a nearly 25% jump in the past 24 hours, although it still sits roughly 16% lower than its price from the past week.