This rally defies broader market trends, which have seen other cryptocurrencies struggle to maintain momentum. Whale activity has been a driving force, with wallets holding over 1 million XRP<\/a> <\/strong>now collectively amassing nearly 46 billion tokens\u2014a six-year high. This significant accumulation signals strong confidence in XRP\u2019s long-term potential, particularly as regulatory dynamics shift in the U.S.<\/p>\n

Short sellers were hit hard by the rally, with over $26.31 million in liquidations<\/a> <\/strong>recorded within 24 hours – $11.36 million in long positions and $14.95 million in shorts. This sudden market movement caught many traders off guard, further fueling the token\u2019s upward trajectory. On-chain analytics suggest that large holders have steadily added to their positions, accumulating over 3.4 billion XRP in the past two years, a clear indicator of sustained interest in the token.<\/p>\n

Adding to the excitement is speculation surrounding SEC Chair Gary Gensler\u2019s potential departure<\/a><\/strong>. His tenure has been marked by aggressive enforcement against crypto firms, including Ripple. Recent comments by Gensler have been interpreted by some as signaling his possible exit, sparking hopes for a more favorable regulatory landscape under the incoming administration. Investors are optimistic that a leadership change could bring relief to U.S.-based crypto projects, including Ripple.<\/p>\n