XRP holds above $3 after a rally to $4, confirming a bullish retest of a multi-year wedge breakout.
A whale closed a $1.35M short at $2.9959, signaling potential upside and a pause in bearish conviction at key support.
Ripple’s active OCC banking license filing may support investor confidence and long-term bullish structure for XRP.
XRP is showing strength above the $3.00 zone following a sharp pullback from its recent $4.00 high. As whales shift positions and Ripple advances its banking ambitions, momentum seems to be quietly rebuilding.
Bullish Structure Holds Despite Pullback
Citing a chart posted by Steph_iscrypto, XRP recently completed a breakout from a wedge formation that capped price action through most of 2024.
The rally took XRP from below $1.00 to above $4.00 in early 2025. After this powerful move, price retraced to the $2.80–$3.00 support area, which coincides with the breakout zone.
The retracement is seen as a healthy technical retest. A red candle with a large wick shows that buyers are stepping in aggressively near this zone. If this level holds, the path toward $3.80–$4.00 could reopen, especially if volume builds up again.
Despite the recent pullback, XRP still looks strong. It’s holding just above the wedge breakout line, which is a good sign. That means the bigger bullish trend hasn’t been broken yet and could still play out.
Whale Behavior Signals Market Sentiment Shift
In a follow-up post, Steph reported that a notable XRP whale closed a $1.35M short position at $2.9959. This move came as price approached key support. It’s a strong signal that the whale doesn’t expect further downside—at least in the short term.
https://twitter.com/Steph_iscrypto/status/1952350054028812323
Closing a large short during a pullback near support reflects cautious optimism. When big players exit bearish positions, it often precedes an upward shift. Moreover, indicators like MACD and RSI on higher timeframes are flattening, which supports this narrative.
Additionally, the zone has shown signs of accumulation behavior. This hints that institutional or informed buyers might be stepping in quietly.
Ripple’s Banking Ambitions Boost Confidence
Adding fuel to the story, Ripple has filed its application for an OCC banking license in the U.S. This bold step could redefine XRP’s fundamental narrative. If approved, Ripple would be positioned as a full-fledged financial institution.
This development complements the current bullish chart setup. When technicals align with strong fundamentals, price tends to react aggressively. As it stands, XRP’s $2.80–$3.00 region is a key battleground—if it holds, a new leg higher is likely brewing.
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