Whales can move markets with their buying or selling pressure, and tracking this can indicate their market sentiment.

What to know:

– XRP has experienced a significant price increase, up by 430% in the last 30 days, reaching levels last seen in 2018.
– There's been an unprecedented movement of XRP by large holders (whales), with CryptoQuant data indicating high whale activity over the past month.
– However, this whale activity may signal potential market tops.

XRP prices have zoomed 430% in the past 30 days, reaching price levels last seen in 2018 and leaving scores of Crypto Twitter traders surprised with the strength. The rise started in early November after the Republican victory in the U.S. election reignited investor confidence in tokens linked to U.S. companies, including XRP's associated Ripple Labs.

Large holders are playing a key role in contributing to the move. CryptoQuant data shows whale activity – which tracks movements from large wallets to and from exchanges – has been consistently elevated since the past month, multiples higher than any other period.

Whales can move markets with their buying or selling pressure, and tracking this can indicate their market sentiment.