XRP's price is once again attracting attention following a breakout from a descending triangle, driven by rising institutional interest and active accumulation by major investors.
XRP Price Breakout from Descending Triangle
On July 14, XRP broke above the resistance line of a descending triangle, resulting in a price increase of more than 8%. CoinDesk analysts confirmed that the breakout was supported by increased trading activity and backed by a $14 million leveraged long position on Hyperliquid.
> "Technical setups like these don’t come along very often," explained CoinDesk’s Shaurya Malwa. "It’s a high-conviction trade that has solidified a near-term bullish case for XRP."
Momentum indicators are showing positive signals: RSI is rising, MACD has turned positive, indicating market strength.
Institutional Support and Whale Confidence
Institutional support is a key driver in XRP's latest rise. According to AInvest, XRP’s on-chain activity increased with a 168% volume increase, indicating broad-scale accumulation rather than retail trading alone.
Whale wallets holding more than a million XRP reached an all-time high, with over 47.3 billion XRP held by major players. Institutions like BNY Mellon and SBI Holdings are boosting their investments, with SBI CEO Tomoya Asakura describing XRP as a "generational wealth transfer opportunity" in a recent interview.
Shift in XRP's Market Position
XRP has reclaimed the third spot by market cap among cryptocurrencies, surpassing BNB and narrowing the gap with Ethereum. This shift occurs as the overall macro sentiment toward cryptocurrency stabilizes and investors look for real-world applications.
> "Investors are no longer treating XRP as a speculative token; they’re seeing it as a financial utility," said Edwin Foster, an AInvest analyst.
XRP’s low costs and quick transaction settlements make it an attractive option for business integration, aligning with global trends toward tokenized money and digital currencies.
XRP's latest price breakout is not a one-off occurrence but a culmination of months of positive signals, institutional support, and fundamental developments. With $3.40 in sight, momentum is building, and the narrative around the market is shifting.
