XRP signaled renewed bullish momentum this week, as the cryptocurrency completed golden cross patterns on multiple short-term charts and surpassed a closely monitored resistance level. The latest technical developments arrived amid increased buying by larger holders and renewed trader optimism.
Golden cross patterns emerge
On the 2-hour chart, the 50-period moving average crossed above the 200-period moving average, forming a golden cross—a technical indicator that some traders view as a potential precursor to further upward movement. A similar golden cross was registered on the 4-hour chart, with the 50-period moving average climbing above the 200-period average on this time frame as well.
This series of bullish signals followed XRP’s move above its daily 50-period moving average, marking its highest level since mid-May and a break above a widely watched technical barrier.
XRP exceeded the closely watched daily MA 50 for the first time in over two months, strengthening the case for a shift in short-term trend.
Key resistance broken, next targets set
Ali, a well-followed cryptocurrency analyst, identified $1.13 as a pivotal price level. He stated that a clear move above this point could confirm a broader bullish breakout and initiate the next stage for XRP’s rally. Following this move, XRP’s next technical target sits at $1.30.
XRP reached a session high of $1.16 on Tuesday, extending a five-day streak of gains that began on July 17.
Whale accumulation supports price action
Blockchain analytics provider Santiment reported that XRP’s recent climb to a two-week high has coincided with significant accumulation by whales and large holders. Investors controlling between 100,000 and 100 million XRP increased their collective holdings by more than 2.8% over the past five weeks.
During this same period, micro wallets carrying less than 0.01 XRP reduced their holdings by 5.2%, indicating some divergence between large and small participants.
| Holder Type | Holding Change (5 weeks) |
|---|---|
| Whales/Sharks (100,000-100M XRP) | +2.8% |
| Micro Wallets (<0.01 XRP) | -5.2% |
Historically, XRP’s price has often moved in tandem with whales and other major stakeholders, while retail wallets with smaller balances have tended to reduce exposure before rallies. This pattern adds weight to the bullish scenario emerging in current trading conditions.
Santiment attributed the recent “quiet setup” to stronger holders accumulating while micro wallets trim down, a dynamic that can provide underlying support for price appreciation.
Institutional products and ecosystem developments
The timing of XRP’s upswing aligns with favorable developments in its broader ecosystem. Market participants point to increased access through potential XRP exchange-traded fund (ETF) products and ongoing expansion of use cases on the XRP Ledger (XRPL), such as payments, tokenization, and the stablecoin RLUSD.
Ripple, the US-based company behind the XRP Ledger, continues to focus on expanding its enterprise payment solutions and promoting wider adoption for XRP in cross-border settlements.
Mini dictionary: RLUSD, known as Ripple USD, is a recently launched stablecoin designed to maintain a 1:1 peg with the US dollar, supporting payment, settlement, and tokenization activities on the XRP Ledger.
With these key levels surpassed, XRP remains in focus as investors monitor whether the bullish technical indicators and accumulation trends will sustain the recent rally.
