The cryptocurrency world is buzzing once again as XRP, the token powering Ripple’s cross-border payment ecosystem, appears to be flashing signs reminiscent of its legendary 2024 bull run. A recent uptick in whale activity, combined with a familiar chart pattern, is fueling speculation that another powerful rally could be just around the corner.
In just the past five days, major XRP holders—commonly referred to as whales—have amassed over 110 million tokens. This buying spree coincides with a chart setup nearly identical to the one seen ahead of XRP’s explosive 500% rally in 2024. Back then, XRP had broken out of a prolonged consolidation pattern and soared within weeks.
At the time of writing, XRP is holding steady at around $2.38, posting a marginal intraday gain of 0.06%. While volatility remains subdued—price has been ranging between $2.32 and $2.39—there are signs of accumulation beneath the surface that could suggest something bigger is brewing.
Whale Activity Hints at Bullish Intentions
On-chain data is painting a compelling picture. Wallets holding between 10 million and 100 million XRP tokens have grown their collective holdings from 7.56 billion to 7.67 billion XRP over the past five days. That’s a net increase of 110 million tokens—a clear indicator that large players are preparing for a potential upside move.
Historically, these whale wallets tend to increase their exposure in anticipation of a breakout, not after the fact. If this behavior holds true, it could signal that XRP is gearing up for another leg higher, possibly one that breaks past the psychological $3 barrier and sets fresh all-time highs.
Déjà Vu on the Charts?
From a technical standpoint, XRP is testing a descending resistance trendline similar to the one it broke out of before its 2024 bull run. At that time, the breakout catapulted the token up more than 500% in a matter of months. Currently, XRP is hugging that trendline once again, raising hopes that history may repeat itself.
Momentum indicators are supportive, albeit cautiously. The Relative Strength Index (RSI) is trending upward and currently sits at 55, suggesting that the asset is gaining bullish momentum. However, the Average Directional Index (ADX), which measures trend strength, is still pointing downward. This implies that while the bulls are stirring, the trend itself hasn’t yet picked up the strength needed for a full breakout.
Derivatives Market Sends Mixed Signals
On the flip side, derivatives data is giving traders a reason to pause. According to Coinglass, XRP’s open interest has dropped by approximately $930 million over the past five days. This drop may reflect profit-taking, capital rotation into Bitcoin (which is nearing its all-time high), or simple hesitation by leveraged traders.
Daily derivatives volume has also taken a hit, decreasing by around 24%. Yet despite this, the long/short ratio on Binance stands at a bullish 2.97, indicating that traders are predominantly betting on upside—even as nearly $3 million in long positions were liquidated within a 24-hour window.
What XRP Needs for the Next Breakout
To replicate anything close to its 2024 surge, XRP needs more than just whale buying. A resurgence in open interest, increased trading volume, and a clear breakout from its current chart pattern will be critical confirmation signals.
For now, the ingredients are starting to align. Whales are accumulating, momentum indicators are turning favorable, and historical patterns are resurfacing. But until the breakout materializes, traders should proceed with cautious optimism.
Final Thoughts
XRP has long been one of the most closely watched altcoins, partly due to its unique regulatory journey and its widespread use in global payments. With whales stepping in and technical patterns aligning, the stage might be set for another dramatic rally.
But as always in crypto, timing is everything. Whether this is a false start or the beginning of another headline-grabbing surge will depend on the coming days. Stay sharp, keep your eyes on the charts, and remember: in crypto, the early signs often tell the story before the price does.
