XRP Targets Breakout Amid Whale Accumulation

The cryptocurrency market is buzzing with renewed energy as XRP eyes a significant breakout. Recently, XRP has surged approximately 6.50%, climbing to $2.20, bolstered by Ripple’s decision to drop its cross-appeal against the US Securities and Exchange Commission (SEC). This intriguing development puts XRP in a favorable position as it navigates a critical resistance zone.

Technical Analysis: A 75% Breakout Awaits

XRP has established a classic symmetrical triangle pattern since it peaked near $3.40 in February. This structure, characterized by converging trendlines, typically signals a continuation of price movements following a strong prior uptrend. As of June 28, XRP is testing the upper trendline of this triangle, with the 50-day exponential moving average (EMA) acting as additional resistance at the $2.20 mark.

A successful breakout above this confluence could propel XRP toward a target near $3.81, representing a potential 75% increase from current levels. Market watchers are eagerly monitoring this pivotal moment, with questions surrounding whether XRP can sustain this momentum.

Whale Accumulation and Market Sentiment

Supporting the bullish narrative, recent data indicates an upswing in whale activities. XRP’s 90-day moving average for whale flows turned positive in early May, signaling an extensive accumulation phase that had been absent since January. This positive shift suggests that large holders are preparing for a major price action, drawing parallels to previous patterns seen before substantial price rallies.

For instance, similar whale accumulation patterns emerged in August 2024, setting the stage for an impressive 420% price increase later that year. As of late June, whale inflows have eclipsed earlier levels, signaling renewed confidence among major stakeholders. If this trend persists, XRP could be on track to achieve new highs by late 2025, potentially validating the anticipated breakout scenario.

Further complicating the outlook is the liquidation heatmap on Binance for XRP/USDT, which indicates a crucial resistance zone between $2.34 and $2.40, housing more than $525 million in potential liquidations. This dense liquidity can act as a price magnet, influencing market dynamics significantly. XRP nearly tapped the lower boundary of this range in June but faced rejection.

A decisive move past the $2.34 threshold could ignite a short squeeze, propelling the price upward toward $2.40 and paving the way for further gains.

Upcoming weeks are critical for XRP as the market continues to react to internal dynamics and external influences. Traders and investors alike will keep a close eye on these developments as they unfold, with volatility anticipated in the near term.