Ripple (XRP) Price Jumps 6% as Whale Wallets Hit 47B Tokens

XRP surges 6 percent in 24 hours as Ripple’s RLUSD stablecoin hits a $500 million milestone and whale wallets cross 47 billion tokens.

Can XRP finally reclaim its 2021 momentum? With whale wallets bulking up and Ripple’s stablecoin gaining ground, the token just broke a pattern that often signals bigger things ahead. And if trading volume is any indication, this is not just a fluke.

Let’s dive into what’s fueling XRP’s bullish surge.

XRP Breaks Out From Descending Wedge With Volume Spike

XRP soared 7 percent between July 10 and July 11, climbing from $2.42 to $2.57 in a sharp move that caught the attention of traders. The breakout occurred from a multi-week descending wedge, a chart pattern often associated with explosive moves when confirmed by strong trading activity.

• The decisive breakout happened around 21:00 UTC on July 10, with XRP leaping from $2.50 to $2.56 within an hour
• Trading volume hit 219.30 million tokens, 168 percent higher than the 24-hour average of 81.85 million
• XRP formed fresh support at $2.53 and continued to consolidate above $2.54
• The hourly chart now shows XRP trading above both its ascending trendline and the 100-hour simple moving average

Institutional Demand Ramps Up

The breakout wasn’t just about technicals. Whale activity has surged as wallets holding over 1 million XRP now control 47.32 billion tokens. This kind of accumulation is usually a strong sign of institutional positioning for future gains.

This activity has coincided with a rise in Ripple’s RLUSD stablecoin. RLUSD recently crossed $500 million in market capitalization, marking a major milestone in ecosystem development and drawing new attention to the XRP ledger’s potential.

• Analysts say the RLUSD growth provides a fundamental tailwind for XRP
• Regulatory optimism in both U.S. and Asia-Pacific markets is also fueling confidence
• Traders see the setup as a capital flow story now, not just a technical trade

Technical Indicators Suggest More Upside

Momentum indicators are lining up in XRP’s favor:

• The MACD has flipped bullish, indicating rising upward momentum
• The RSI is above 50, showing strength without overbought conditions
• Immediate resistance lies at $2.56, followed by $2.60 and $2.62
• A clear break above $2.60 could open a run toward the $2.70 to $2.90 zone, with some projections pointing as high as $5.00 if bullish conditions persist

However, the final hour of July 11 trading showed some cooling. XRP dipped slightly from $2.58 to $2.57 as volume spiked to 4.10 million tokens. Analysts believe this was likely near-term profit-taking, not a trend reversal.

Key support levels to monitor:

• $2.53 remains a short-term support
• $2.50 is critical to preserving the current bullish structure
• A drop below $2.50 could trigger a test of $2.45 or $2.40

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CoinLaw’s Takeaway

I’m not surprised to see XRP grabbing headlines again. This isn’t just another bounce on a chart. Between the whale wallet surge, RLUSD’s rapid growth, and the volume-backed breakout, there’s serious capital betting on XRP’s comeback. If this keeps up and price punches through $2.60, we could be staring at a powerful return to its 2021 highs. Personally, I’m watching for that $2.70 retest because if it sticks, we might be seeing the early innings of something much bigger.