XRP has recently recorded an impressive rally, reaching a 7-week high of $2.39, driven by intensified accumulation from Ripple whale wallets. Analysts predict the token is entering a breakout phase, with the potential to hit double digits in the near future.
Ripple Whales Accumulate Aggressively as XRP Breaks Above $2.39
According to on-chain data from Santiment, the number of wallets holding more than 1 million XRP has now increased to 2,742, just shy of the all-time high set the day before. These whales collectively hold over 47.32 billion XRP — a strong indication of long-term confidence in the token’s potential.
Notably, large-scale transactions are ramping up. Recently, 25.5 million XRP, worth over $60 million, was transferred from an unknown wallet to Coinbase. In another major move, Whale Alert reported that Ripple sent 200 million XRP (around $477 million) to an unidentified address, sparking speculation of strategic developments ahead.
XRP Nears Historic Quarterly Close with Strong Fundamentals
XRP just posted its highest quarterly candle ever, reinforcing its bullish outlook. This rally is backed by several strong fundamental factors, both market-wide and project-specific.
In South Korea, XRP is currently the most traded cryptocurrency on Upbit, the country’s largest exchange. This reflects strong retail interest across Asia and is helping to boost the token’s global influence.
Additionally, the ProShares XRP ETF has been added to the DTCC platform — a move that typically signals pending approval for U.S. market trading. If approved, the XRP ETF could be a milestone product, attracting significant institutional capital.
Ripple has also strengthened ties with traditional finance by selecting BNY Mellon — one of America’s largest banks — to custody the reserves for its RLUSD stablecoin. Within just seven months, RLUSD’s supply has surpassed $500 million. Ripple has also applied for a national banking license in the U.S., indicating its ambition to bridge crypto and traditional finance.
Meanwhile, Ripple CEO Brad Garlinghouse recently testified before the U.S. Senate Banking Committee, further solidifying XRP’s regulatory momentum following its landmark court victory against the SEC last year.
Analyst Identifies “God Candle” Pattern, Eyes $10 XRP
XRP has climbed more than 10% this month, clearly breaking above its 26-day and 50-day moving averages. A crypto analyst has identified a potential “God Candle” formation on the chart — a sign of an imminent breakout. According to his analysis, XRP is eyeing a move toward $10 and possibly beyond.
The Relative Strength Index (RSI) currently sits between 60 and 65, indicating strength without entering overbought territory. The next key resistance zone lies between $2.40 and $2.50; a breakout above this level could pave the way toward the $3 mark.
