XRP Explodes to Monthly High as Whale Activity Surges

After months of quiet trading across the entire crypto market, XRP finally woke up with a double digit price surge. The token climbed to a monthly peak of $1.14 before cooling off slightly to trade near $1.10. This sudden move caught many market participants by surprise, but on chain data shows several clear signs that a big breakout was brewing behind the scenes.

Large investors were very busy in the days leading up to the rally. Transactions worth more than $1 million jumped by 280 percent in a single day, while wallets holding between 10 million and 100 million tokens scooped up roughly 72 million XRP. At the same time, exchange reserves dropped as more than 240 million tokens left major platforms like Binance, Coinbase, and Upbit between June and August. Network activity also hit a two month high with nearly 50,000 active addresses on the ledger.

Derivatives markets also played a major role as open interest climbed to $2.7 billion. While short volume slightly outweighed long volume, market observers noted that rising open interest combined with strong spot demand closely mirrors the breakout patterns seen in late 2024 rather than past fakeouts. Traders will now watch to see if XRP can hold these higher price levels while open interest stays healthy.