Why is XRP price up today as whale holdings increase?

XRP price has risen around 2% to $1.31 on November 5 as a cryptocurrency market recovery coincided with growing whale holdings and fresh reports of changes in exchange supply. Summary XRP price rose around 2% to $1.31 on November 5 as Bitcoin and other major cryptocurrencies recovered. Analyst Ali Martinez reported roughly 13.24 million XRP leaving exchanges and large holders adding 60 million XRP over the preceding week. Santiment reported that 2,147 wallets held at least 1 million XRP, the highest count recorded in 2026. CryptoQuant contributors reported a Binance scarcity index reading of 2.1, but separate exchange data showed Binance’s XRP reserves growing by 280 million tokens. XRP faces resistance around $1.34–$1.40, while support near $1.25–$1.30 remains important for the recovery. Market data from crypto.news showed XRP recovering from its recent decline toward $1.25, while Bitcoin traded above $80,000 and Ethereum held near $2,400. The latest gains followed a rebound across major cryptocurrencies after volatility surrounding the U.S. midterm elections. At the same time, the recovery was not limited to XRP. Bitcoin gained more than 2%, Ethereum rose nearly 4%, and Solana ad...