XRP Skyrockets 18% as Whales Scoop Up 300 Million Tokens: What's Going On?

XRP is up 18% over the past 24 hours as whales scooped up more than 300 million tokens in 96 hours.Why Are XRP Whales Buying 300 Million Tokens?Analyst Ali Martinez flagged on X that more than 300 million XRP were accumulated by whale wallets in just 96 hours, a level of buying conviction not seen during the months-long consolidation below $1.Meanwhile, BankXRP noted on X that the $1.04 to $1.06 zone was stacked with liquidity that traders expected to slow the rally, but price ripped straight through it to $1.19 without pausing.The breakout cleared the EMA 20, EMA 50, and EMA 100 in a single session, flipping all three into fresh support below price.What Did Ripple’s CEO Say at the White House Crypto Meeting?Ripple CEO Brad Garlinghouse posted on X after attending Wednesday’s White House crypto meeting alongside President Donald Trump and SEC Chair Paul Atkins.“67 million Americans hold crypto today, that’s nearly 1 in 4,” Garlinghouse wrote. “This President’s incredible commitment to innovation and leadership around digital assets in the US has been profound,” he added.The White House meeting, which brought together leaders across the crypto industry, added regulatory optimism to an already strong macro tailwind from the Treasury’s bond buyback announcement.What Does the XRP ETF Flow Data Show?U.S. spot XRP ETFs attracted $8.16 million in net inflows so far this week, including $2.35 million on August 19, according to SoSoValue data.Cumulative inflows have now reached $1.52 billion with total net assets crossing $1.01 billion.With two trading days remaining, this week is on pace to be the strongest inflow week since July 31.Analyst Dark Defender posted on X that XRP completed the correction of all five Elliott Wave counts across all timeframes, a pattern that has no sixth leg.He called the current move the start of a new Wave 5 impulse targeting $5.85 to $9.Can XRP Reach $1.34? Key Levels to WatchXRP holds at $1.18 Thursday, breaking the three-month descending trendline with RSI at 71.59, the strongest reading since May.Momentum favors continuation toward $1.22 and potentially the 200-day EMA near $1.34 on any sustained hold above $1.15.Key levels for XRP:$1.34 — Target 2 (EMA 200)$1.22 — Target 1$1.15 — Key support (EMA 100)Image: Shutterstock