- Over 219M XRP moved, signaling possible insider accumulation ahead.
- XRP volume jumps 87%, with $335M in new capital this year.
- Inverse head and shoulders hints at breakout toward $2.60.
The XRP price chart is flashing signs of a possible breakout. After months of mostly sideways price action, XRP has finally pushed above the $2.34 mark, a level it hasn’t crossed since May. This move also breaks past a long-standing resistance line that’s been holding the token down since January 2025.
The move is backed by a surge in whale activity and comes just a day before Ripple CEO Brad Garlinghouse is set to testify before the U.S. Senate Banking Committee.
Crypto analyst Ali Martinez has observed that XRP appears to be forming an inverse head and shoulders pattern on the charts: a classic bullish signal. If confirmed, this pattern could push XRP’s price toward $2.60 in the near term.
Source: AliCharts
On-Chain Evidence: Whales Move Over $600 Million
The excitement around XRP isn’t just about its chart patterns. Blockchain data shows that whales recently moved over 219 million XRP (worth about $500 million) between unknown wallets. In another large transaction, 50 million XRP (around $113 million) was shifted as well. These kinds of moves usually hint that large players are getting into position before possible big news.
XRP’s Next Catalyst: Garlinghouse Goes to Washington
XRP’s futures market is also seeing a big jump. Trading volume has shot up by 87% to $4.72 billion, and open interest has increased by nearly 4%. The token is also attracting fresh money, with $335 million invested so far this year, and another $10.6 million just in the past week.
Related: XRP Ledger EVM Sidechain Launches with 1,400 Smart Contracts in its First Week
Additionally, Ripple CEO Brad Garlinghouse is set to testify before the U.S. Senate Banking Committee on July 9.
XRP Price Prediction (Short-Term)
Since bouncing from its June 22 low, XRP has been making higher highs and higher lows. However, it faced some resistance around the $2.33-$2.35 area and pulled back slightly.
Related: XRP Breaks Resistance as Upbit Hits $1.94B Volume; Smart Contracts Surge
For now, XRP is still in a local uptrend, but the momentum isn’t very strong, and the price pattern remains fragile.
To keep this bullish momentum going, XRP needs to hold above $2.20, an important support level. If it drops below this, there’s a chance the price could fall back toward $2.15. On the upside, experts are eyeing for a decisive move above $2.57.
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