XRP Surges 6% on Breakout From Descending Wedge, Whale Wallets Cross 47B Tokens

News Background
Market sentiment around XRP improved following the rise of Ripple’s RLUSD stablecoin, which crossed $500M in market cap earlier this week — a symbolic milestone for the XRP-backed ecosystem.
Meanwhile, traders are increasingly pricing in favorable regulatory outcomes for Ripple in U.S. and Asia-Pacific jurisdictions. This optimism, coupled with elevated whale activity, has sparked renewed institutional participation.
Separately, analysts point to a macro breakout from XRP’s multi-week descending wedge — a structure that historically precedes outsized moves.

What to know:

• XRP surged 6% between July 10 04:00 and July 11 03:00, rising from $2.42 to $2.57 with a $0.17 range (+7% intraday volatility).
• A clean breakout occurred at 21:00, with price jumping from $2.50 to $2.56 on 219.30M volume — 168% above the 24H average of 81.85M.
• Fresh support formed at $2.53; consolidation above $2.54 confirmed trend continuation.
• Whale wallets holding over 1M XRP now account for 47.32B tokens, underscoring deep institutional accumulation.

Price Action Summary

• Range: $0.17 | Low: $2.42 → High: $2.59
• Breakout Time: 21:00 Jul 10
• Volume Spike: 219.30M vs. 24H avg 81.85M
• Support Zone: $2.53 with validation above $2.54
• Resistance Zone: $2.56 capped rally; $2.70–$2.90 remains key upside target
• Final Hour (02:28–03:27): XRP dipped 0.35% from $2.58 to $2.57, forming a descending channel with successive lower highs

Technical Analysis

• Pattern Break: XRP broke out of a descending wedge above $2.30 — a bullish continuation signal
• Volume Confirmation: 219.30M volume confirms breakout strength, indicating institutional flow
• Consolidation: Post-breakout holding above $2.54 affirms uptrend structure
• Descending Channel: Late-session pullback suggests short-term cooling; lower highs observed at $2.59, $2.58, $2.57
• Profit-Taking Signal: Volume spike of 4.10M at 03:25 points to possible institutional distribution

What Traders Are Watching

• Can XRP crack $2.60 and challenge $2.70–$2.90 zone? This band is critical for reclaiming 2021‑era bullish momentum
• Whale wallet count and RLUSD’s $500M milestone are key macro signals; both suggest long-term demand thesis remains intact
• A retest of $2.53–$2.54 support could offer entries if consolidation holds; breakdown below $2.50 would invalidate current structure

Takeaway
XRP’s breakout is backed by hard volume, whale wallet data, and improving fundamentals via Ripple’s RLUSD ecosystem.

While the final hour’s pullback shows near-term profit-taking, the broader trend points higher. A clean move above $2.60 with volume would open the gates to $2.90 — and possibly $5.00, as some analysts now project.

For traders: this is no longer just a chart breakout. It’s becoming a capital flow story.

(Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.)