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Here’s Why XRP Has Been Green Lately

Here’s Why XRP Has Been Green Lately

Here’s Why XRP Has Been Green Lately


Key Insights:

  • XRP appears to be moving once again, after being stagnant for so long.
  • The cryptocurrency hit a high of $2.96 recently, before its ongoing pullback.
  • XRP is holding above $2.70 and could be on its way towards $2.9, $3.4 or even $5.

XRP just posted one of its most dramatic rallies, after skyrocketing from around $2.30 to nearly $3 in less than 48 hours. This move came after a long period of stagnation and low volatility, and caught many traders off guard. 

However, several major catalysts have played a role in this rally, especially from strong whale activity and increased social interest. Here’s a breakdown on what has been driving XRP’s breakout and what traders are watching out for.

XRP Breaks Free from Consolidation

XRP’s price had been trapped in a tight trading range for weeks with little momentum. However, all of this changed on 11 July, when the token finally broke out of its sideways phase and rallied 8% in a single day.

The cryptocurrency hit a high of $2.96 on July 12 before pulling back slightly. However, it still managed to hold above important support levels around $2.70.

This bullish price action wasn’t just a fluke. It was instead backed by strong trading volume with over 375 million XRP changing hands during the most active two-hour window.

XRP Is Experiencing A Surge in On-Chain Activity

One of the key catalysts behind the rally is the resurgence in network activity and community interest. According to blockchain analytics firm Santiment, XRP saw a spike in new wallet creation, with almost 7,000 new addresses added in just 24 hours. 

This kind of user growth typically shows that fresh capital is entering the market, and tends to come before price expansions.

At the same time, XRP became the most talked-about crypto on social media with 5.5% of all crypto-related discussions. That was the highest level of chatter since March, when Ripple’s CEO announced a legal victory against the U.S. SEC.

Whales Are Making Their Moves

While retail investors may have restarted the buzz, the whales helped push the rally into overdrive. As XRP started climbing, the number of wallets holding at least one million tokens rose to an all-time high of 2,743. 

On Hyperliquid, one whale even opened a massive $14.03 million leveraged long position at $2.30. 

This kind of aggressive behaviour indicates that these investors are confident in the asset, and are applying upward pressure accordingly.

Such whale behavior not only shows strong conviction but can also act as a price anchor. As long as those positions remain open, they often discourage selloffs below their entry point (which in this case, sits at around $2.30).

A Technical Breakout with Strong Volume

From a charting perspective, XRP had been forming an ascending triangle pattern in the charts. This meant that a breakout was incoming, with the pattern’s higher lows pushing up against the $2.78–$2.90 zone.

XRP attempting to confirm breakout, Source: TradingView

Once XRP broke past that horizontal resistance, it did so with real volume and over 375 million tokens traded in just a two-hour period on July 12. In total, XRP saw a price swing of 14% between 12 and 13 July, which validated the bullish momentum. 

As it stands, analysts now point to $2.90–$3.40 as the next viable resistance zone, with some even eyeing $5+ if macro conditions stay favorable.

The post Here’s Why XRP Has Been Green Lately appeared first on Live Bitcoin News.





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