- XRP whale activity soared, with the total supply of whales exceeding $5 million reaching 55%.
- Social dominance and liquidation levels paint a bullish picture.
Ripple [XRP] has witnessed a phase of consolidation since early August. A symmetrical triangle pattern is evident from the daily price chart.
Lately, altcoin prices have been bullish since rejecting a key support level at $0.519 in September.
At the time of writing, XRP was testing a key symmetrical triangle resistance level at $0.58.
Source: Tradingview
Whale dominance in the XRP supply
Ripple’s whale activity has increased dramatically over the past 24 hours. According to Santiment data, whales worth more than $5 million currently own 55% of the total supply.
The high level of concentration among a few large holders is an indication of wild swings that the XRP market may experience in the near future.
Historically, whales have always played a role in XRP’s price action, and their dominance to this extent suggests a crucial role in future market movements.
Source: Santiment
Social dominance is increasing
In addition to the whale activity, XRP’s social dominance has risen aggressively in recent days. The increasing discussions on social platforms often indicate an increased interest in or anticipation of important events that may occur in the markets.
These spikes in social activity could also push the market momentum a lot higher as more traders and investors start paying attention to XRP.
Source: Santiment
Looking further at Coinglass’ liquidation heatmap data, XRP indicates a clear bullish bias. A total of 559,000 XRP has been merged at the price level of $0.5881, indicating strong interest from buyers.
Source: Coinglass
Read XRP’s 2024-2025 Price Prediction
This positive sentiment signals greater confidence in Ripple’s potential bullish rally, with investors taking long positions for further gains.
As XRP market numbers continue to improve, this combination of whale control, social dominance, and bullish liquidation could fuel further price action in the near future.
