XRP Surges 3.53% as Analysts Predict Bullish Momentum

XRP's latest price was $2.97, up 3.531% in the last 24 hours. XRP has been a focal point in the cryptocurrency market, with various analysts and commentators discussing its potential and market dynamics. One notable analysis places XRP at the center of the next market advance, mapping a five-wave structure that targets significant milestones. The call is anchored in XRP’s relative strength and a broader macro setup that suggests a bullish outlook. The analyst argues that any short-term shakeout in Bitcoin precedes an aggressive upswing that should favor leaders like XRP. The relative-strength case for XRP is explicit, highlighting its leadership in the current cycle and its potential to outperform other altcoins, including Ethereum. The analysis suggests that XRP has held strong around all-time highs and has pushed above both its previous all-time high and the $2.70 swing high, consolidating above them. In contrast, Ethereum is still struggling to reclaim and hold its all-time high. This relative strength is seen as important, with spot ETF speculation for XRP possibly coming in September or October and potential policy tailwinds adding fuel to its momentum.

XRP’s consolidation around $2.82 is noted, with buyers eyeing a $3.00 breakout. Technical indicators such as RSI at 58 and a near-term MACD crossover, along with increased whale inflows, support a reversal setup. A sustained close above $2.90 would confirm momentum toward $3.00–$3.20 targets. The chart indicates a possible reversal setup, with buyers closely watching the $3.00 zone as the next target. A clean breakout from the current consolidation could trigger bullish momentum and set the stage for renewed growth. The RSI and MACD are important for XRP traders as they provide early momentum and trend-change signals. RSI at 58 suggests room to run before overbought levels, while a MACD histogram shrinking toward zero often precedes a bullish crossover, which many traders use as a buy signal when confirmed by volume and price action. Whale inflows matter when sustained over several weeks, indicating accumulation. The recent report of 340 million XRP in whale inflows and 1.7 million tokens purchased in a month suggests institutional or large-holder interest, which can support higher price floors if distribution remains limited.

Resistance remained near $3.10, where repeated attempts to advance had failed. Current consolidation between $2.82 and $2.89 suggests market stabilization. Buyers are aiming for the $3.00 area as the next technical target. A close above $2.90 would confirm momentum toward this level. Indicators show conditions aligning for a potential reversal, with the RSI standing at 58, signaling neutral-to-bullish momentum. Meanwhile, the MACD histogram moved closer to a bullish crossover. Recent candles displayed small-bodied moves followed by aggressive closes, adding strength to the reversal outlook. Accumulation metrics show rising investor activity, with observations indicating a weekly resistance test at $3.00. Data notes 1.7 million tokens purchased in the past month and 340 million XRP whale inflows, reinforcing accumulation and the potential for higher targets if resistance levels are breached. The Network Value to Transactions ratio reached a two-month high, pointing to stronger network valuation relative to activity. Historically, similar patterns have preceded upward moves for XRP. A clean breakout above $2.89 may lead toward $2.95 and extend to $3.04 if confirmed by volume. Support remains near $2.70, with stronger levels at $2.63 and $2.50. A move below these would shift sentiment. Longer-term projections suggest possible advances toward $4.00–$4.50 if resistance near $3.20 and $3.60 are cleared. Upcoming regulatory decisions on ETF approvals in October may add to momentum.

Binance has overtaken Uphold to become the largest holder of XRP, controlling more than 2 billion XRP. The exchange now holds these assets in custody, valued at approximately $5.96 billion, based on the current market price of $2.98 per XRP. This shift has sparked significant interest from traders and analysts, prompting closer examination of Binance’s holdings on the XRP Ledger. Xaif, a prominent crypto commentator, revealed that Binance surpassed Uphold in XRP holdings, a claim backed by blockchain data. Multiple XRP wallets connected to Binance now show substantial balances. According to blockchain explorers, Binance’s combined XRP wallets have surpassed 2 billion XRP, confirming Xaif’s post. Binance pools XRP on behalf of millions of users, not owning it outright, according to blockchain analysis. The concentration of XRP holdings on Binance provides the exchange with significant influence over market liquidity and price stability.

Significant blockchain activity occurred as an unidentified entity transferred approximately 17.84 million XRP tokens to the prominent exchange Coinbase. This substantial movement coincides with broader indications of market recovery across the digital asset space, attracting attention to potential shifts in liquidity. Analysis points to potential challenges for the ecosystem in the current period. Specific concerns center around a reported increase in XRP reserves held on the Binance platform, a documented decline in the Total Value Locked (TVL) within the XRP Ledger (XRPL), and data derived from Google Trends suggesting a potential decrease in retail investor interest. Recent market dynamics are characterized by consolidation patterns following periods of heightened volatility. After reaching higher levels temporarily, the asset has entered a phase of sideways movement. Technical indicators, including a descending volume trend relative to average levels observed during breakout attempts, suggest ongoing consolidation activity as the market seeks clearer directional cues.