XRP’s 1,609% spike in daily active addresses mirrors 2017 patterns, hinting at strong accumulation before a potential breakout.
Analysts eye a move toward $8.82 as XRP holds firm above $2.00, breaking a long-term downtrend and flipping resistance into support.
Institutional interest surges as ETF approval odds hit 85%, positioning XRP as a prime candidate for major capital inflows.
XRP’s on-chain activity has stunned the crypto market, with daily active addresses skyrocketing from 32,000 to more than 547,000 in just 24 hours, a massive 1,609% surge. This spike mirrors a key fractal from 2017, when similar address growth preceded a historic bull run. Analysts are now projecting a 287% potential rally, with $8.82 as a possible long-term target.
Address Activity Hints at Strategic Repositioning
According to the report, this is not just a statistical anomaly. In previous cycles, major address activity spikes occurred before price explosions, marking early accumulation phases. This behavior appears to be repeating, as XRP remains range-bound while address activity explodes, suggesting strategic accumulation by informed market participants.
https://twitter.com/BullrunnersHQ/status/1932482403886604502
Back in February, daily active addresses briefly topped 300,000 while XRP’s price hovered between $0.51 and $0.63. Notably, on February 22, XRP dipped to $0.53 even as address activity soared, an early sign that traders were not exiting, but accumulating beneath the surface. This pattern of divergence between flat price action and spiking address activity continued into April and now appears to be reigniting in June.
On June 10, daily addresses once again surged past 350,000, fueling renewed speculation that XRP is gearing up for a significant move. Historical context supports this, such spikes often lead price action, serving as a precursor to broader market momentum.
ETF Optimism Drives Institutional Accumulation
XRP is also drawing increasing interest from institutions, particularly amid rising expectations for regulatory clarity. Bloomberg recently reported an 85% likelihood that the SEC will approve a spot XRP ETF by October 17, 2025. This fund would feature CFTC-regulated futures contracts and institutional-grade custody, appealing to traditional finance players.
XRP’s regulatory advantage lies in its classification as a commodity and wide institutional backing. Grayscale, WisdomTree, Bitwise, and 21Shares have all filed for XRP-related products. With peers like Solana and Litecoin at similar approval odds, XRP is a front-runner in this new wave of digital asset investment vehicles.
Market sentiment suggests that ETF approval could permanently raise XRP’s price floor by unlocking massive new capital flows.
Technical Analysis Supports Bullish Thesis
Technically, XRP recently broke out of a long-standing descending channel from December 2024 to April 2025. This breakout flipped key resistance into support, forming a bullish accumulation zone between $2.00 and $2.30. Price has retested this zone several times without breaking down, showing strength and growing buyer conviction.
If XRP can decisively break through $2.60, analysts believe a move toward the psychological $3.00 level is likely. A breach of this range could signal the start of a sustained rally, with the $8.82 target becoming more plausible if momentum accelerates.
Market Metrics Highlight Confidence
XRP is trading at $2.30, with a 24-hour gain of 0.8% and volume exceeding $2.46 billion. Its circulating supply stands at 58.8 billion tokens, while the fully diluted valuation hits $229 billion. These metrics reflect strong liquidity and continued interest from large holders.
With over 922,000 wallets currently holding XRP, the foundation for a major bullish move appears to be forming. While short-term volatility remains a risk, momentum, metrics, and market structure suggest XRP could be entering a new growth phase.
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