Ripple’s XRP rose to $2.40 after posting a 4.4% gain over the last 24 hours. The price increased from $2.26, boosting the weekly performance to 10.2%. XRP now holds a total market capitalization of $141.3 billion. Although the 24-hour trading volume fell by 22.2% to $3.3 billion, the price continued to trend upward, signaling strong market momentum. Whale Alert recently flagged a massive XRP transaction involving 25.49 million tokens worth over $60 million moved from an unidentified wallet to Coinbase. These types of transfers often lead to speculation that large holders may be preparing to sell, especially when coins enter centralized exchanges.
Price Range Shows Buyer Strength
XRP traded within a tight range of $2.28 to $2.40 throughout the day, showing buyers are firmly in control. Despite lower volume, bullish pressure remains intact, suggesting that traders are not rushing to sell just yet.
24-hour price chart CoinMarketCap
Meanwhile, XRP’s on-chain metrics reflect increasing adoption. The total number of XRP holders has grown to 6.61 million, confirming steady user expansion. According to Santiment, more users are creating and holding wallets indicating long-term faith in the asset.
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Additionally, data reveals that wallets holding at least 1 million XRP have reached a record of 2,743. This growth in high-value accounts strengthens XRP’s overall investor base.
Technical Pattern Signals Bullish Outlook
Analyst Ali Martinez highlighted that XRP is breaking out from an inverse head-and-shoulders pattern on the 4-hour chart. With the neckline between $2.31 and $2.33 already breached, the pattern confirms a bullish setup.
Fibonacci extension levels indicate potential targets at $2.4560, $2.5259, and $2.6299. For these targets to remain valid, XRP must hold above its breakout zone while sustaining higher volume.
Related article: XRP Trading Volume Explodes to $4.92B in 24 Hours as Price Defends Key $2 Support
CryptoWZRD noted that XRP experienced notable volatility in the last session. While a brief pullback could occur, the broader trend still favors bulls. The next major resistance lies at $2.5160. A break above this level may unlock further trading opportunities, especially on intraday charts.
