XRP surged 13% as whale accumulation, easing US-Iran tensions, RLUSD expansion, and ETF optimism fueled bullish momentum. Analysts are now eyeing a retest of $1.94. | Credit: CCN.com
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Key Takeaways
XRP surged by 13% in 24 hours, reclaiming the $1.28 level for the first time in nearly two weeks as broader crypto markets rallied.
Easing US-Iran tensions boosted risk appetite, helping drive capital back into cryptocurrencies after a period of geopolitical uncertainty.
Whales continue accumulating XRP, with wallets holding at least 1 million XRP now controlling roughly 74.1% of the circulating supply.
XRP has emerged as one of the strongest-performing major cryptocurrencies this week, surging by nearly 13% in 24 hours as improving geopolitical sentiment, sustained whale accumulation, and growing institutional interest combined to fuel a sharp recovery.
The token reclaimed the $1.28 level for the first time in almost two weeks, reversing a prolonged period of selling pressure that had weighed on the broader crypto market.
The rally comes as reports of easing tensions between the US and Iran boosted risk appetite across global markets, triggering renewed buying activity in digital assets.
While macroeconomic developments provided the initial spark, XRP’s recent strength appears to be supported by a combination of favorable on-chain data, ecosystem growth, and increasingly bullish technical signals.
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One of the most notable drivers behind XRP’s recovery is the continued accumulation by large holders.
According to on-chain data, wallets holding at least one million XRP now control roughly 74.1% of the token’s circulating supply after adding approximately 1.53 billion XRP over the past six months.
Historically, sustained accumulation by whales has often preceded major price advances. In fact, large investors tend to build positions during periods of market weakness.
The latest buying trend suggests that institutional investors and high-net-worth holders remain confident in XRP’s long-term prospects despite recent market volatility.
Several developments within Ripple’s ecosystem have likely reinforced this conviction. Ripple’s expansion into institutional payments and tokenization continues to attract attention, while adoption of its RLUSD stablecoin is accelerating.
RLUSD has grown rapidly since its launch in late 2024, surpassing $1.6 billion in market capitalization. Its deployment on both the XRP Ledger and Ethereum has positioned it as a key component of Ripple’s broader strategy to bridge traditional finance and blockchain-based payment systems.
Meanwhile, data showing more than 25 million XRP recently withdrawn from centralized exchanges further supports the accumulation narrative, as investors appear to be moving assets into long-term storage rather than preparing to sell.
Technical Breakout Puts Key Resistance Levels in Focus
XRP’s recent rally has also been fueled by a significant technical breakout. The token successfully pushed through several important resistance levels near $1.14, $1.18, and $1.20. This triggered a wave of short liquidations, accelerating buying pressure.
Market data indicates that nearly $7 million in XRP positions were liquidated over the past 24 hours, with approximately 86% of those liquidations driven by short sellers.
As bearish traders rushed to close positions, additional demand helped propel the token higher.
XRP bearish traders rushed to close positions. | Credit: InvestTech
Technically, XRP has reclaimed the 200-period exponential moving average on the four-hour chart near $1.24. This represents a level widely monitored by traders as a key indicator of trend direction.
Holding above this area could strengthen the bullish case and attract additional momentum-driven buyers.
The next major challenge lies near the 50-day EMA around $1.29, followed by resistance at $1.38 and a longer-term descending trendline near $1.43.
A decisive break above these levels could confirm a broader trend reversal and shift attention toward significantly higher price targets.
Momentum indicators are also improving. The Relative Strength Index remains comfortably below overbought conditions. The MACD and Average Directional Index have begun generating bullish signals, suggesting room for further upside if buying pressure persists.
ETF Optimism and Elliott Wave Analysis Support Bullish Outlook
Beyond technical factors, XRP continues to benefit from growing optimism surrounding potential spot XRP exchange-traded funds.
Institutional demand remains robust, with XRP-related investment products reportedly attracting substantial inflows. XRP inflows have outpaced comparable Bitcoin and Ethereum products.
The derivatives market is reflecting this growing confidence. Open interest in XRP perpetual futures has climbed steadily to approximately $2.54 billion, indicating increasing participation from leveraged traders.
XRP aggregated open interest chart. | Credit: Coinalyze
Adding to the bullish narrative, Elliott Wave analysts believe the token may have completed a corrective phase. It may have entered the early stages of a new impulsive move higher.
According to recent wave analysis, XRP successfully defended a critical demand zone near $1.24 before breaking out of a wedge formation.
The first major upside target identified by analysts sits near $1.61, followed by a potential retest of $1.94. A move above that level would represent a significant milestone. It may potentially open the door to even more ambitious targets later in the cycle.
Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
