XRP's price unexpectedly broke out, establishing a 7-week high as it surpassed the $2.39 mark – the first time since May 23. According to data from Santiment, buying power from 'whales' is increasing significantly, with 2,742 wallets currently holding over 1 million XRP each.
The total amount of XRP held by this group has reached 47.32 billion tokens – a number that reflects long-term confidence in the price increase potential of this cryptocurrency. Meanwhile, technical analyst Gordon points out the breakout from the wedge pattern, which is often a sign that a strong price increase is about to occur.
Whales accumulating XRP strongly
The latest data shows that the accumulation trend of XRP from large wallets is accelerating again. Currently, there are 2,742 wallets holding more than 1 million XRP tokens – just one wallet shy of the historical peak of 2,743 wallets recorded on Tuesday, marking a strong wave of accumulation from influential investors.
The total amount of XRP held by this group of investors has reached 47.32 billion tokens – a number that clearly reflects a large-scale accumulation and long-term holding strategy. In a cryptocurrency market often dominated by the behavior of 'whales', this increasing accumulation may be an indicator of a significant price fluctuation ahead.
Recently, XRP's price continues to demonstrate solid strength across multiple time frames: up 2.3% in 24 hours, 6.7% in 7 days, and 12.7% in 2 weeks – maintaining a stable upward trend. Since the beginning of the year, the increase has reached 456.5%, while the month-on-month performance has also achieved 6.2%.
According to on-chain data platform Santiment, the activity of large wallets often serves as an early indicator of market trends. The continuous increase in the number of large investors is evidence of new capital flowing in – especially from financial institutions and high-net-worth individuals.
The confidence of whales not only shows belief in the long-term price increase potential but also affirms that real demand is surpassing previously considered peak price levels. This move further reinforces the view that XRP is entering a phase strongly supported by large and sustainable buying forces.
Breaking out of the wedge pattern
According to technical analyst Gordon, XRP's recent price action is sending positive signals, as the coin has just broken out above the wedge pattern – a technical structure often signaling strong breakouts following a period of accumulation.
The wedge model is famous for its ability to create significant price fluctuations after the market has been 'compressed' within a narrow range. For the first time since May 23, XRP has exceeded the resistance level of $2.39 – a price that has previously halted upward momentum multiple times, indicating that buying pressure is gradually gaining dominance.
Establishing the highest peak in 7 weeks not only marks an escape from a prolonged sideways state but also reflects a strengthening upward momentum. Notably, the alignment between technical signals and accumulation data from whale wallets has created stronger confidence in XRP's upward outlook among investors.
Currently, many technical indicators suggest that XRP is likely to enter a phase of acceleration in the short term. According to Gordon, the market is approaching a time of significant volatility, and investors should prepare for considerable price movements ahead.
Breaking out above the wedge pattern is not just a mere technical signal; it also represents an important milestone in XRP's price trend. History shows that similar breakouts have previously yielded significant profits after prolonged accumulation periods.
Therefore, investors often closely monitor such technical patterns to determine entry or profit-taking points. The completion of this wedge pattern could be the starting point for a new growth cycle for XRP.
Ripple strengthens institutional partnerships amid a gradually clearer legal landscape
Ripple has officially chosen Bank of New York Mellon – one of the oldest and most reputable banks in the United States – as the primary custodian for its stablecoin reserves. Under the agreement, BNY Mellon will be responsible for managing and safeguarding the RLUSD stablecoin – pegged to the value of the USD – to enhance transparency and ensure compliance with legal regulations for Ripple.
This move not only marks an important step in Ripple's ecosystem expansion strategy but also demonstrates the company's determination to reach institutional investors through partnerships with traditional financial institutions.
Immediately after the announcement, XRP's price rose by 4%, indicating a positive market reaction and confidence in Ripple's long-term development direction.
BNY Mellon's involvement as a key player in Ripple's operational model is clear evidence of the deepening shift of traditional financial institutions into the digital asset space.
In addition, Ripple has just filed a motion to withdraw its appeal in the protracted lawsuit with the U.S. Securities and Exchange Commission (SEC), and the SEC has also announced it will do the same. This move officially concludes the multi-year legal battle, which had been a major barrier to XRP's growth.
Lifting the legal pressure not only helps to eliminate one of the biggest concerns that had weighed down XRP's price but also paves the way for Ripple to confidently expand its business without the burden of litigation risks.
The combination of successfully resolving legal issues and strengthening partnerships with major organizations has created a solid foundation for Ripple's sustainable growth. Taking advantage of this, the company is now focusing on expanding its product portfolio and accessing potential markets globally.
The positive changes in the legal environment are expected to become an important lever, driving Ripple's long-term growth strategy. In this context, strong technical signals and accumulation activity from 'whales' further bolster the optimistic outlook for XRP.