TL;DR

The actions of large cryptocurrency investors, typically referred to as whales, have the ability to impact the markets with their large purchases or sell-offs. However, that hasnt been the case in the past 24 hours when it comes to the third-largest digital asset by market cap. Whales sold 40 million $XRP in the last 24 hours! pic.twitter.com/XCQTr4n6cf

Data from the popular analyst reveals that whales had disposed of over $120 million worth of XRP in the span of just a day. Although this is not among the most significant and most influential sell-offs in recent months, it could still trigger a domino effect for smaller investors as well.

However, Ripples token has defied this development. Instead of feeling the selling pressure and heading below the crucial $3 support, which it had reclaimed in the past few days, XRP went on the offensive and jumped to almost $3.10.

This became its highest price level since August 26, when it was rejected at $3.12 and pushed south to under $2.85. XRP sits at $3.05 as of press time, being up by 1.5% daily and almost 9% weekly. Its market cap has grown to over $180 billion.

Analysts are adamant that the next rally is around the corner, with some outlining targets of over $4 and up to $5, which would set a new all-time high.

On the much-observed ETF front, though, XRP continues to receive blows from the US regulator (the SEC), as the agency delayed making a decision on another spot Ripple fund earlier this week.