Whales are Gobbling Up XRP!

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Oh my, oh me! It seems that XRP has climbed to a seven-week high above $2.39! 🤯 And what’s behind this marvelous momentum, you ask? Well, my curious companions, it’s those whales again! 🐳 They just can’t get enough of that XRP goodness!

According to the clever folks at Santiment, the number of wallets with at least one million XRP has grown to a whopping 2,742! 📈 And together, these wallets hold a staggering 47.32 billion XRP! 💸 That’s a whole lotta confidence among major holders, if I do say so myself.

🐳 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 $XRP.

There are currently 2,742 wallets holding at least 1M XRP, one off from…

— Santiment (@santimentfeed) July 9, 2025

As I scribble these words, XRP is trading at a tidy $2.42, up 4% over the previous day and 7% over the previous week. And would you look at that trading volume? It’s jumped a whopping 74.1% in the last 24 hours to $4.54 billion! 📊

And it’s not just the spot market that’s seeing all the action, my friends. The derivatives market is also getting in on the fun! According to Coinglass data, XRP’s volume increased by 77.68% to $9.95 billion, and its open interest increased by 10.12% to $5.62 billion. That’s a whole lotta speculation going on! 🤔

Now, let’s take a gander at the technicals, shall we? XRP’s recent breakout above the $2.40 zone has pushed the price beyond the upper Bollinger Band. And that, my friends, is often a sign of strong near-term momentum! 🚀 The price is also holding comfortably above all major short- and mid-term moving averages. Ah, the joys of being a trendsetter! 😎

The relative strength index is looking quite perky at 66, showing significant momentum without yet reaching overbought territory. And the MACD? Still expanding and in positive territory, thank you very much! 🙏 That’s a sign of trend continuation, if I’m not mistaken. And let’s not forget the volume, which has increased in tandem with the rally. Ah, the sweet taste of validation! 🍰

Now, I know what you’re thinking: “What’s next for XRP?” Well, my curious companions, the next area to watch would be close to $2.50, followed by the May highs around $2.63. But, of course, that’s only if those bulls can keep XRP above the $2.40 breakout level. 🤞 And with steady accumulation from large holders and increasing trading volume, I’d say the odds are looking rather…whale-ish! 🐳

But, as always, there’s a catch! If the price falls back below $2.30, it could be a sign of a failed breakout, and we might see a drop toward the 20-day moving average. And that, my friends, would be a bit of a…well, let’s just say it wouldn’t be the most pleasant experience for XRP enthusiasts. 😬

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2025-07-10 11:59