XRP price surged to a new all-time high of $3.66 before cooling off near $3.50, holding onto 21% weekly gains.
While some feared a pullback, fresh data from whale wallets and investor behavior tells a different story, one that suggests this might just be a pause before a much bigger move.
Whale-to-Exchange Flow Nosedives 94%
One of the clearest signals comes from whale behavior. Back on July 11, large holders’ wallets moving big amounts shifted over 43,575 XRP to exchanges, likely prepping to sell. But by July 21, that number collapsed to just 2,339 XRP. That’s a 94% drop in whale-to-exchange flow.
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XRP price and whale-to-exchange flow: CryptoQuant
When whales send less to exchanges, they’re not rushing to sell. It’s like the big players are sitting tight, waiting for the next move rather than exiting. This cool-down in whale selling pressure usually removes a big source of downward price pressure, giving XRP some breathing room at current levels.
HODL Waves Show New Holders Holding Strong
Interestingly, while whales slowed their exits, short-term holders seem to be stepping up. The HODL Wave data from July 10 to July 20 shows an uptick in wallets that have held XRP between one week and six months.
XRP price and short-term HODL waves: Glassnode
3 to 6-month band grew from 10.4% to 12.08%
1 to 3-month holders rose from 4.8% to 6.3%
1 week to 1 month climbed from 4.1% to 5.4%
That’s a clear sign that new buyers aren’t flipping XRP quickly; they’re holding onto their bags. Even when whales were offloading earlier, prices didn’t crash. These newer holders may have absorbed the selling, keeping the momentum steady.
HODL Waves show how long coins sit in wallets. If the bands for newer holders grow, it means fresh buyers are staying put and even entering. That’s often a sign of confidence.
XRP Price Action: All Eyes on the Psychological Resistance
From a price chart angle, XRP price is still hovering near its key resistance at $3.59. This level acted as a ceiling during the previous attempt to break out, and traders are watching it like hawks.
XRP price analysis: TradingView
If XRP can decisively break above $3.59, the next major target sits near $4.64. This level isn’t just random; it aligns with the 2.618 Fibonacci extension level from the last completed swing, which started in early-April and retraced towards June-end. We aren’t using the current high in this calculation since that move is still in progress.
Do note that even if XRP price manages to breach $3.59, it might still face some psychological resistance near $3.6597 or $3.66 (the current all-time high).
However, if the XRP price fails to hold above $2.95, another key Fib level now turned support, it may invalidate the bullish scenario in the short term. Yet, as long as the price remains above $3.13 ( another key support level), the bullish outlook persists.
