XRP holders have recorded a spike in sentiments following a massive price jump in the last seven days. This week, the crypto market took a positive turn on the heels of growing institutional accumulations and macro interests. Retail tailwinds also spurred a string of inflows as Bitcoin (BTC) hit a three-month high, followed by an altcoin frenzy. XRP holders now fancy a $5 monthly peak, despite January’s $3.4 point. XRP Bulls In Buying Mode On-chain data shows massive XRP purchases by large holders this week. A slew of retail wallets maintains similar pressure amid growing momentum. The rise in institutional accumulation marks a third consecutive week of inflows, which started in April and is set to deepen to possible monthly peaks. In the last 30 days, XRP whales have accumulated over $880 million worth of assets, fueling a price surge. After the last dip, holders have consistently picked up the asset due to growing on-chain dynamics and global partnerships. On May 8, Wellgistics, a Florida pharmaceutical firm, announced the use of XRP for real-time payments in a $50 million deal, citing the need to lower centralized banking delays. Holders have also pointed to increased anticipation for a spot ETF product in the United States as a rallying factor. If approved, bulls pitch a new all-time high for the altcoin. Recently, Polymarket users have placed odds at 85% similar to Bloomberg analysts as favorable conditions swirl U.S. markets. Another factor behind recent institutional accumulation is the Securities and Exchange Commission’s (SEC) settlement filing . The move reaffirmed positive sentiment for the asset and spurred its price to a 10% rally. Centralized exchanges also saw outflows simultaneously with trades keen on the next wave. Will XRP Price Hit $5? Most bulls are pricing a $5 mark this month, banking on recent institutional inflows. A move to that level remains possible if present institutional accumulation continues. Last week, XRP institutional products notched $10.5 million inflows ahead of swinging macro data. The United States and United Kingdom trade deal and talks about easing tensions with China could usher in a good spell for crypto assets. XRP holders are poised for a higher run in the coming weeks, and a price surge to $5 could set the tone for a bull run. At press time, XRP price stands at $2.39, a 7% spike in the last 24 hours and an 8% rally this week. With trading volume above 41%, the asset’s market cap has surged to $138.91 billion.
