XRP breaks consolidation, whales add 190 million coins amid 22% weekly surge

Whale accumulation and price action

Crypto analyst Xaif Crypto reported that XRP has exited its recent sideways trading phase, setting up a potential increase of 6.8% from its current price levels. The digital asset currently trades at $1.23, having climbed 22.4% over the past week, according to CoinCodex.

A standout development is the surge in holdings across XRP wallets classified as “whales”—addresses with balances between 1 million and 10 million XRP. Analyst MRCAULIMANN noted that this group collectively added approximately 190 million XRP in a single day, indicating a possible shift in sentiment among large stakeholders.

While the addition of 190 million XRP does not mean one single entity acquired all those coins, the combined increase among several large holders aligns with XRP’s improved price action and overall market momentum.

XRP’s recent breakout from two weeks of consolidation, along with a 22.4% price gain and significant whale accumulation, has sparked renewed interest in the asset as bulls eye a possible 6.8% move higher.

Network activity and decentralized exchange

The XRP Ledger (XRPL), a decentralized blockchain responsible for processing XRP transactions, saw sustained network strength. In the last 24 hours, approximately 1.89 million transactions were processed, and around 2,300 new addresses joined the network.

On the decentralized exchange (DEX) embedded within XRPL, activity reached nearly $2 million during the same period. Despite this, the majority of XRP trading volume remains on centralized platforms rather than through the XRPL DEX.

Mini dictionary: XRPL DEX, or XRP Ledger’s decentralized exchange, is a built-in marketplace on the XRP Ledger that facilitates peer-to-peer cryptocurrency trading without relying on a central intermediary.

Key amendment and market outlook

Meanwhile, a major proposed amendment to the XRP Ledger protocol, which requires at least 80% approval from network validators to activate, currently holds just 34%. This is well below the threshold needed for network-wide adoption, and may limit some functionality upgrades for now.

For XRP bulls, the key technical hurdle lies in maintaining the token’s newly established position above its previous trading range. Market participants are watching to see whether momentum can continue and fuel the projected 6.8% upward move.

The uptick in large-wallet balances, robust daily transaction counts, and steady growth in network participation are drawing elevated interest from traders, with open interest in XRP derivatives also surging. These factors, analysts say, could further support bullish sentiment in the near term.

With almost 1.9 million transactions in one day and significant whale accumulation, XRP’s ongoing rebound is getting close attention from market observers.

For now, XRP’s technical breakout, fueled by large holders increasing their exposure and strong on-chain metrics, sets the stage for continued bullish monitoring.