XRP Surges to a 7-Week High Above $2.40 as Whale Holdings Dominate Market

At the time of this writing, XRP was trading at $2.44, representing a 5.1% increase in the past 24 hours, according to CoinGecko data . XRP’s Bullish Momentum Gains Steam According to Santiment, “XRP’s market value has hit a 7-week high, crossing above $2.39 for the first time since May 23rd. What to watch for are the rising number & collective balances of whales holding at least 1M XR P.” The leading on-chain metrics provider added that whale wallets holding over 1 million XRP recently hit a record 2,743, collectively controlling 47.32 billion coins, illustrating heightened investor confidence. The XRP whale wallets hitting historic highs reflects a robust shift toward strategic accumulation, backed by rising on-chain activity, institutional use cases, and anticipation of regulatory and technical advancements. Therefore, this signals deep-pocket confidence in XRP’s future. Is XRP Eyeing a New All-Time High (ATH)? With its all-time high of $3.40 set in January 2018, XRP appears poised to challenge and possibly surpass this long-standing record. According to market analyst Vlad, Eyes are on a potential breakout above $2.45, which could trigger a move toward $2.60–$2.80. This is because bullish sentiment surrounds XRP, fueled by Ripple’s U.S. banking charter ambitions and ETF speculation. Technicals align, with RSI in the low 60s and strong demand zones. Similar sentiments were shared by crypto pundit Lingrid that the $2.60 to $2.70 zone was of utter importance as higher lows continue to form. Higher lows signal bullish momentum and are a key indicator of a potential uptrend in price action. This is because they show that buyers are stepping in at increasingly higher prices, indicating growing demand and market confidence. Meanwhile, XRP’s price increase to the $2.44 level comes a day after Ripple CEO Brad Garlinghouse testified before the U.S. Senate Banking Committee in what marked as a pivotal moment in the fight for regulatory clarity, something the XRP community has sought for years. What XRP Trading Volume Skyrocketing Means Over the past month, XRP has not just regained investor attention, it’s become one of the most actively traded crypto-assets. According to Coinglass data, Binance has been leading the charge in terms of XRP trading volume at $1.88 billion followed by Bitget at $1.30 billion. Source: Coinglass Such extraordinary volume levels signal more than mere price movements, they spotlight market emotion, institutional involvement, and evolving ecosystem dynamics. 1. Intensified Retail & Institutional Interest A sudden volume surge often mirrors heightened participation. XRP’s recent 86% volume jump suggests intensified activity from both retail traders and institutions. Analytics indicate that call options at the $3 strike dominated Deribit markets since the beginning of this month, showing bullish sentiment and anticipated breakouts. 2. Liquidity Boost = Smoother Market Moves Liquidity—the ease of entering and exiting positions—has improved dramatically. With $5 billion trading hands daily, XRP demonstrates tighter bid-ask spreads and less slippage, thereby enabling larger investors and algorithmic bots to operate efficiently and further fueling volume. 3. Catalysts Behind the Surge Several key developments are fueling the momentum: Regulatory optimism: Ripple’s pursuit of a U.S. banking charter has spurred confidence, with XRP breaking above resistance zones like $2.28 on high volume. Technical breakout signals: Symmetrical triangle and cup‑and‑handle formations, combined with strong volume, hint at breakouts toward $2.50 and beyond. On-chain commitment and macro tailwinds: Short-term holders have ramped up accumulation, and improving macro conditions could reinforce momentum. 4. What This Means for Price Action High volume breakouts often precede sustained trends. XRP has surged to $2.44, with daily volume regularly topping $4.5 billion. These moves line up with the volume, reinforcing bullish technical setups. Call options interest at the $3–$4 strikes further shows trader appetite for further upside. Conclusion XRP’s trading volume continues to skyrocket, signaling a major turning point. This surge reflects growing liquidity, institutional bullishness, and technical breakouts reinforced by favorable developments, such as the roll out of the XRP Ledger EVM sidechain . If XRP maintains support above $2.44 and volume stays robust, as well as whale holdings’s dominance increasing or remaining constant, a rally toward its ATH of $3.40 appears increasingly viable.

Source: Coinpaper