XRP Breaks Out From Multi-Month Wedge: On-Chain Growth Signals Bullish Momentum

XRP has recently broken out of a prolonged consolidation phase, signaling potential bullish momentum as key resistance levels are tested. This breakout coincides with significant on-chain growth, including a parabolic increase in unique wallet addresses, now totaling approximately 6.64 million. Such metrics often indicate growing long-term investor confidence in the asset. As of July 2025, these developments suggest a promising outlook for XRP's future price trajectory.

XRP Breaks Out From Multi-Month Wedge as On-Chain Metrics Signal Growing Confidence

XRP has decisively broken out of a prolonged consolidation pattern, with its price action now testing key resistance levels. The MOVE coincides with accelerating network growth, as evidenced by a parabolic increase in unique wallet addresses holding the asset. Holder count has surged to approximately 6.64 million this year—a metric often interpreted as reflecting long-term investor conviction.

On-chain analytics reveal compelling undervaluation signals through the MVRV Z-Score, currently hovering at 2.13. While not yet in extreme bargain territory, this reading suggests XRP remains priced below historical fair value thresholds. Market observers note such conditions frequently precede sustained rallies when accompanied by expanding network adoption.

Ripple Partners with BNY Mellon as Custodian for RLUSD Stablecoin Reserves

Ripple has entered an exclusive partnership with The Bank of New York Mellon Corporation (BNY) to serve as the primary custodian for its Ripple USD ($RLUSD) stablecoin reserves. The collaboration, announced via Ripple's official X account, marks a strategic move to bridge institutional finance with the digital asset ecosystem.

$RLUSD is an enterprise-grade stablecoin designed for real-world utility, emphasizing transparency and regulatory compliance under the New York Department of Financial Services (NYDFS) Trust Company Charter. Unlike retail-focused stablecoins, it targets institutional adoption, leveraging BNY Mellon's reputation as one of the world's largest custodial banks.

Why July Is Critical for XRP ETF Approvals

July marks a pivotal month for XRP-related exchange-traded funds (ETFs) in the U.S., with multiple issuers awaiting regulatory clearance from the Securities and Exchange Commission (SEC). ProShares leads the charge, targeting July 14 to launch three futures-based XRP ETFs—Ultra XRP, UltraShort XRP, and Short XRP—pending SEC approval. These products offer Leveraged and inverse exposure to daily XRP performance.

Turtle Capital and Volatility Shares follow closely, with potential debuts slated for July 21. Over 10 spot filings remain in limbo, facing a final SEC decision by mid-October. The Ultra XRP ETF (ticker: UXRP) has already surfaced on the DTCC list, while its counterparts await listing.

The SEC’s silence by the deadlines could greenlight these funds, reshaping institutional access to XRP. ProShares’ revised prospectus, updated June 24, shifted the effective date from April 30 to July 14, reflecting heightened anticipation. Market watchers brace for a domino effect—approvals here may signal broader crypto ETF momentum.

XRP Sees Major Price Surge as Exchange Net Position Grows

XRP's price surged nearly to $3 in early July 2025, fueled by a significant influx of 283 million tokens into exchanges—the largest in eight months. The rally followed a period of declining exchange net positions between June 23 and June 28, which had pressured prices downward as holders offloaded assets.

Market sentiment shifted abruptly on June 29, with exchange inflows triggering a 4.31% price spike within 24 hours despite a 21.63% drop in trading volume. The token's fully diluted valuation now stands at $239.67 billion, underscoring its growing dominance.

Glassnode data reveals the correlation between exchange movements and price action: prolonged outflows preceded the downturn, while renewed inflows ignited the breakout above $2.50 by July 1. Regulatory developments and macroeconomic factors remain key drivers for XRP's volatile trajectory.