XRP, the fourth-largest cryptocurrency, has marked a significant surge, breaking through a long-term descending triangle and rising above the daily Ichimoku Cloud.
Breakout from Triangle and Price Surge
Earlier today, XRP price surged to $2.40, marking the highest level in about seven weeks. This rise followed a lengthy consolidation period. Crypto trader Josh Olszewicz noted that the breakout from the triangle and returning above the Ichimoku Cloud are positive signals for bulls.
> "1D [$XRP] back above the daily cloud, potential triangle breach" — #333kByJuly2025 (@CarpeNoctom) [July 9, 2025]
Market Strength and Trading Volumes
Following the recent triangle breakout, there is now a bullish Kumo twist, with the shorter-term Senkou Span A (green) overtaking the longer-term Senkou Span B (red). However, the trading volume is not overwhelming enough to indicate strong momentum. Bullish sentiment may hold if the price stays above the upper boundary of the triangle, roughly $2.30.
Increase in Whale Wallets
According to crypto analytics platform Santiment, market participants should pay attention to the growing number of whale wallets holding at least 1 million XRP tokens. Yesterday, this group reached a new record high with 2,742 wallets, indicating confidence in the fourth-largest cryptocurrency by market capitalization. This confidence could push XRP to new records, despite it yet to break its long-standing peak of $3.40, achieved over seven years ago.
Thus, XRP is showing signs of growth after breaking out of a long-term descending triangle, with an increase in whale wallets and improving technical indicators. However, investors should closely monitor trading volumes and support levels.
