TLDR
XRP wallets holding 1M+ tokens reach 2,743, holding 47.32B XRP total.
XRP jumped 26% in 7 days, with $31.44M shorts liquidated.
A $14.03M long opened at $2.30 signals strong whale confidence.
XRP broke out of ascending triangle, targeting $2.90–$3.40 next.
The number of wallets holding over one million XRP has reached a new all-time high, according to on-chain data from Santiment. This increase in large XRP holders coincides with a sharp 26% rise in XRP’s price over the past seven days and a 10% gain in the last 24 hours. The upward movement also comes amid a broader altcoin rally, supported by rising trading volumes and increasing interest from institutional participants.
XRP Whale Accumulation Reaches New High
Santiment data published on July 12 shows the number of wallets holding at least one million XRP has risen to 2,743. These wallets now collectively hold 47.32 billion XRP tokens. “Not only are there more XRP whales than ever, but the total supply they hold is also increasing,” Santiment stated in its report.
The rise in whale activity is being closely monitored by traders as it often indicates longer-term positioning. These wallets tend to hold rather than frequently trade, suggesting a strong belief in future price appreciation.
The data also shows that these wallet holders have accumulated more tokens during XRP’s recent consolidation, pointing to strategic entry ahead of the rally.
XRP Price Surge Supported by Volume and Derivatives Activity
XRP has surged 26% in one week, reaching a peak of $2.96 before retracing slightly to $2.80. According to CoinMarketCap, XRP rose 10% over the last 24 hours. CoinGlass reported that $31.44 million worth of short positions were liquidated during this move.
The price movement was accompanied by high intraday volatility and increased volume. Between 13:00 and 15:00 UTC on July 11, XRP saw over 375 million in trading volume. Buyers consistently defended the $2.70 to $2.75 range, helping establish a support base. Analysts now view the $2.90 to $3.40 range as the next resistance zone to monitor.
A large leveraged long position worth $14.03 million was also opened on Hyperliquid at $2.30. This trade is viewed as a major signal of whale confidence in the current price trajectory. Traders now watch if the price can turn $2.80 into support and advance further.
Technical Pattern Points to Bullish Continuation
XRP’s recent breakout is tied to an ascending triangle pattern that has been developing for months. The pattern showed higher lows and consistent resistance at the top. A breakout occurred during the high-volume sessions on July 11.
The entire trading range between $2.58 and $2.96 represented a 14% volatility window. Although XRP briefly touched $2.96, it faced rejection, followed by a stable recovery back to $2.78. A clean break above $2.90 with high volume could clear the way toward $3.40.
Volume data during the late session confirmed that the breakout was driven by real demand rather than low-liquidity moves. This strengthens the technical setup as analysts continue to focus on breakout confirmation through sustained volume above key levels.
Market-Wide Surge Boosts Altcoin Sentiment
The XRP price rally is part of a wider altcoin move that followed Bitcoin reaching three new all-time highs within a week. Bitcoin traded at $118,780 on July 12, after breaking $112,000 and $116,500 in the previous sessions.
Ethereum also rose 17.5% in the same week, reaching $2,958. According to Santiment, this broader rally confirms the start of an altcoin season. “The data confirms that, for now, it has,” the platform said. It also noted that if Bitcoin holds above $110,000, more capital may rotate into altcoins.
Traders are watching whether XRP can sustain its momentum in this environment. If it breaks past $2.90 with heavy volume, attention may shift toward the $3.40 level, with whale positions continuing to offer support beneath the market.
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