- XRP has topped $1.00, leading most major cryptos.
- Whale activity, sentiment, and technical breakouts have boosted XRP’s rally.
- Ripple’s legal clarity and regulatory optimism have supported the surge.
The cryptocurrency market is buzzing, but few assets have captured attention like XRP. Over the past week, XRP has surged by 70%, eclipsing major players like Bitcoin (BTC) and Ethereum (ETH). While meme coins like DOGE and PEPE have also seen strong short-term gains, XRPโs rally stands out due to its regulatory challenges.
At the time of writing, XRP is trading at $1.02300 in an attempt to cement its place above the pivotal $1.00 markโa psychological resistance it has struggled to breach for years. Investors are now wondering: Is this the beginning of XRPโs next big run?
XRP Leaves the Market Behind
The breakout is particularly significant as Ripple navigates legal challenges and regulatory ambiguity in the United States. Analysts and traders alike point to increasing whale activity, regulatory optimism, and bullish market sentiment as key drivers behind the rally.
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Over the past seven days, XRP has surged by an impressive 70%, with a 20% jump in just the last 48 hours. Currently, XRP has not only broken past $1.00 but is holding steady above the resistance, marking a two-year high.ย
In comparison, Bitcoin (BTC) gained just 4.3%, Ethereum (ETH) rose by 2.5%, and Binance Coin (BNB) trailed with a 1.6% uptick during the same period. Whale activity has played a pivotal role in this rally.ย
According to on-chain analytics firm Santiment, wallets holding at least 1 million XRP now control 45.61 billion tokensโtheir largest accumulation since mid-2018. This whale behavior suggests rising institutional confidence in XRPโs potential.
Technical analysts are also pointing to bullish signals on the charts. XRP recently broke out of a six-year-long symmetrical triangle pattern, which historically precedes extended price rallies. This breakout aligns with XRPโs price trading well above its 100-hour Simple Moving Average (SMA), further reinforcing its upward trajectory.
XRPโs Resistances and the Path Ahead
Currently trading at $1.02300, XRP has cleared the key psychological resistance of $1.00. Analysts have identified $1.05 as the next crucial resistance level, followed by a stronger hurdle at $1.12. If XRP can sustain its momentum and break through these levels, the next targets could be $1.20 and beyond.
On the downside, XRP has established strong support at $0.95. This level will likely be a cushion in case of a pullback, which analysts suggest is a healthy possibility after such a significant run-up.
On the Flipside
- The current rally could face resistance if whales begin to offload large amounts of XRP for profit.
- Price corrections are common after such rapid gains; XRP may dip back down to reclaim some liquidity at $0.95 before attempting another breakout.
- Broader market volatility remains high, which could impact XRPโs trajectory despite its recent strength.
Why This Matters
XRPโs breakout above $1 signals a resurgence of investor confidence in Ripple and the broader cryptocurrency market. The price surge and whale accumulation and bullish technical indicators suggest that XRP may be entering a new bullish phase. If XRP sustains its upward momentum, it could pave the way for renewed interest.
To explore XRP’s impressive 50% surge leading up to this and the role of whale holdings reaching a six-year high, read more here:
XRP Soars 50% as Whale Holdings Hit 6-Year High
Discover how XRP’s breakout past $1 ties into SEC shake-up rumors and potential leadership changes at the SEC. Read here:
XRP Breaks $0.81 Amid SEC Shake-Up RumorsโIs Gensler Out?
