XRP and ETH have both demonstrated significant rallies, fueled by substantial whale activity and evolving market dynamics. While both tokens have attracted institutional interest, they present unique investment propositions. Examining their recent performances, whale accumulation trends, and future growth catalysts offers insights into which token is quietly outperforming.

XRP has recently experienced notable price surges. In July 2025, XRP surged around 10% in 24 hours and was up approximately 34% over the past week. This rally briefly pushed XRP to $3.30 during Asian trading, reflecting growing optimism in the futures market. The token is now trading around $3.52, and is just 4% below its all-time high of $3.40, set in 2018. Data from WhaleTrace indicates that large investors have purchased over 2.2 billion XRP in the last two weeks. This accumulation aligns with news about leveraged ETFs launching in the U.S. and Grayscale adding XRP to its Digital Large Cap Fund. In January 2025, XRP's price showed volatility, with frequent ups and downs, and whale wallets boosted XRP holdings by 1 billion in 48 hours, driving renewed investor interest and market activity.

On the other hand, Ethereum (ETH) has also seen substantial gains, driven by increased institutional adoption and whale accumulation. Ethereum's price has surged past $3,800 amid heavy institutional buying. During a session in July 2025, the price of Ethereum reached an intraday high of $3,812, its highest level since December 2024. Last week alone, Ethereum gained over 26%, and it's up more than 50% for the month of July, its strongest monthly performance in three years. Major Ethereum holders have been actively acquiring Ether (ETH), while retail investors have been selling off their holdings. Wallets holding between 1,000 and 100,000 ETH have collectively added a net total of 1.49 million ETH, valued at approximately $3.79 billion, over the last 30 days.

Examining whale activity provides further insights. XRP has experienced a significant increase in whale activity this summer, with 47.32 billion XRP held by crypto wallets containing at least 1 million tokens. This figure is close to the all-time high, suggesting substantial accumulation by large holders. This surge in whale holdings coincided with a 26% increase in XRP's price, indicating a strong correlation between large holder accumulation and price movements. In contrast, Ethereum "mega-whales", or wallets holding more than 10,000 ETH, have increased their holdings by 9.31% since October 2024. Between October 2024 and July 2025, these wallets saw their holdings climb from 37.56 million ETH to 41.06 million ETH.

Several factors could catalyze further growth for both XRP and ETH. For XRP, a potential XRP spot ETF approval could broaden investor access. Bloomberg analysts gave high odds for an ETF approval by the end of 2025. Ripple's focus is on making XRPL the go-to platform for banks and big businesses by adding better security, lending options, Ethereum compatibility, and new types of digital assets. For Ethereum, institutional adoption is accelerating via ETFs, with BlackRock's ETHA and Fidelity's FETH attracting $633 million in July 2025 alone. Ethereum ETFs may see $10 billion in inflows by 2025 as institutional interest surges. Inflows into Ethereum ETFs could add $10 billion in Q3 2025, driving demand. The GENIUS Act's global adoption could attract $15–20 billion in cross-border inflows.

Both XRP and ETH have demonstrated strong performance fueled by whale-driven rallies. XRP's surge is characterized by significant accumulation and a push toward institutional adoption, while Ethereum benefits from substantial ETF inflows and increasing utility in DeFi. While both have potential, XRP's recent gains and strong whale activity suggest it is quietly outperforming ETH in the current market.