XRP posted one of its strongest daily performances in recent weeks, surging 13% in 24 hours and reclaiming the $1.28 level for the first time in two weeks. The rally comes as broader cryptocurrency markets recovered following reports that tensions between the United States and Iran had eased, reducing a key source of uncertainty that had weighed on risk assets.
According to data shared by crypto analytics firm Santiment, XRP’s rebound was particularly significant because it followed a period of exceptionally negative sentiment surrounding the asset. Throughout much of 2026, traders had become increasingly cautious as XRP struggled to maintain momentum amid broader market volatility. That pessimism created conditions for a sharp relief rally once market confidence began to return.
The recovery was not isolated to XRP. Major altcoins and cryptocurrencies across the market also moved higher as investors responded positively to signs of improving geopolitical conditions. However, XRP stood out due to the strength of its bounce after weeks of subdued price action and weakening trader sentiment.
Whale Accumulation Continues to Support XRP
Beyond the short-term market recovery, on-chain data suggests that XRP’s largest holders remain confident in the asset’s long-term outlook.
Santiment reported that wallets holding at least one million XRP now control approximately 74.1% of the cryptocurrency’s total supply. The firm also noted that these large holders accumulated an additional 1.53 billion XRP over the past six months, indicating continued buying despite periods of market weakness.
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The behavior of large holders, often referred to as whales, is closely watched by traders because it can provide insight into long-term market conviction. Previous Santiment data has shown a steady increase in the number of wallets holding at least one million XRP, reflecting sustained interest among major investors even during periods of price consolidation.
While whale accumulation alone does not guarantee future price gains, it is often viewed as a sign that larger investors remain optimistic about an asset’s prospects. In XRP’s case, the trend has persisted despite several months of market uncertainty and fluctuating investor sentiment.
Institutional Growth Remains a Key Narrative
Another factor supporting XRP’s long-term outlook is continued interest in Ripple’s payment infrastructure and the expanding use of the XRP Ledger.
Market participants are closely monitoring Ripple’s efforts to grow its institutional payments business, which focuses on facilitating cross-border transactions using blockchain technology. At the same time, developers and businesses have been exploring tokenization opportunities on the XRP Ledger, a trend that has gained traction across the broader digital asset industry as firms look to bring real-world assets onto blockchain networks.
Related: XRP Wallets Holding 10K XRP Reach Record High Despite Market Volatility
These developments have helped maintain confidence among investors even when XRP’s price has faced downward pressure. Supporters argue that expanding real-world utility could strengthen demand for the network over time, while critics continue to point out that broader market conditions and regulatory developments remain important factors influencing performance.
For now, XRP’s latest rally highlights how quickly sentiment can shift in the cryptocurrency market. With geopolitical concerns easing and whale accumulation remaining strong, traders have been given fresh reasons to reassess the asset’s near-term outlook. Whether the rebound develops into a longer-lasting trend will likely depend on continued market stability and the pace of adoption across the XRP ecosystem.
