XRP Whales Gobble Up 47.32B Tokens as Price Hits 7-Week High—Are They Betting on a Rally?

XRP's big players just flexed their holdings—47.32 billion tokens stacked—while the price punches through a 7-week peak. Are the whales front-running a breakout, or just recycling last cycle's playbook?

Whale watching: When these deep-pocketed traders move, markets ripple. Their latest accumulation suggests bullish conviction—or maybe just another round of 'buy high, sell higher' hopium.

Price action: XRP's recent surge defies the usual crypto volatility, teasing a potential trend reversal. But let's be real—since when do whales care about retail's exit liquidity?

Bottom line: In crypto, concentration breeds manipulation. Whether this whale activity signals a moon mission or just another pump-and-dump scheme depends on who's holding the bag at the top.

• XRP reclaims $2.41, touching a 7-week high as buying momentum builds.
• Whale wallets holding over 1M XRP hit near-record levels with 47.32B XRP controlled.
• Technical indicators reveal bullish momentum despite signs of short-term overheating.

Ripple’s XRP is once again in focus after retaking the $2.41 barrier for the first time since late May. The 7-week high comes together with a sharp increase in market engagement, according to Santiment data.

Whale movement is one of the most significant impulses driving this action. As of now, 2,742 wallets have more than 1 million XRP, one wallet less compared to the all-time high recorded a day ago. Together, these large investors now hold 47.32 billion tokens, indicating a growing belief in the token’s long-term worth.

CoinGlass data also highlights this surge. The token has risen 5% in the past 24 hours and 6% in the past week. Volume has increased 44.40% to $9.01 billion. Open interest increased 11.55%, hitting $5.54 billion.

Meanwhile, options volume jumped by over 300%, and options open interest grew by 29.25%. This growing derivatives activity is indicative of more speculation and hedging by traders as the token gains traction.

Technical Indicators Turn Bullish Despite Overbought Signals

Price action exhibits a distinct breakout above recent resistance, but there is more to it than that. The chart indicates the token’s relentless movement above both the 50-day and 200-day simple moving average (SMA), indicating a continued bullish attitude.

The 20-day EMA, which is a shorter-term moving average, also rises rapidly, further confirming XRP’s surging uptrend.

But there comes a cautionary sign of a lingering death cross, in that the 50-day SMA is still below the 200-day SMA. This typically indicates a bearish overhang, but recent price action could be invalidating that setup.

Momentum indicators are also bullish, since the MACD line remains above the signal line, indicating strength. Volume, also, remains strong, which supports the price surge.

But signs of overheating cannot be overlooked. RSI comes in at 65.47, right on the borderline of overbought levels. The Stochastic Oscillator is already DEEP into overbought levels at 93.40, which comes close to suggesting a near-term moderation if buying pressure fades.

XRP Short-Term Outlook Bullish, but Pullback Risks Remain

Good rebound and whale network support of XRP are bullish for mid-term prospects. There are, however, possibilities of short-term corrections. Price now tests psychological resistance at $2.50.

If broken on high volume, XRP can aim for more gains towards April peaks. If not, sellers to watch are around support NEAR $2.20, where various EMAs converge.