Key points:
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XRP’s 90-day mobile whale traffic turned positive in May, suggesting new interest and potential breakthrough settings for the fourth quarter.
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Wallets holding more than 1 million XRP reached an all-time high, while mid-level wallets rose by 6.2%, a signal that long-term holders have convictions.
After reaching its peak at an all-time high of $3.40 in January, XRP (XRP) Over the past few months, a modest return on investment has been shown. Although monthly candles have always exceeded $2 per month since December 2024, XRP’s second-quarter trading volume has fallen to its lowest level since August 2020, reflecting a decline in market participation.
XRP Whale Activity Hints Breakthrough Settings
Recent data From encryption literacy, whale addresses may be positioned as an upcoming breakthrough. It is worth noting that XRP’s 90-day moving average whale flow shifted to positive areas in early May, with a sharp negative flow reversal observed between January and April, marking a longer correction phase.
This new whale capital poured in with hints of enhancing market sentiment. Additionally, a detailed examination of the chart shows that the bullish trend of whale flow began in early August 2024 and ultimately correlated with a breakout of 420% in XRP in Q4.
These traffic currently exceed last year’s levels, which may lift XRP to new highs as early as 2025.
Wallet data highlights investor confidence
Support bullish OnChain development, futures trader DOM Famous Important activity in large XRP wallets. Specifically, wallets holding more than 1 million XRP reached an all-time high of 2,850, while wallets holding more than 10,000 XRP increased by 6.2% to 306,000.
Despite the price stagnation for several months, this continued growth of massive accumulation underscores long-term investor confidence in XRP.
At the same time, the data analysis platform’s attention tip XRP sentiment reached 17 days high and was powered by a stalled $50 million settlement ripple and SEC.
This development contradicts the optimism surrounding Bitcoin (BTC) and ether (ethereth), retail benefits have decreased as the cryptocurrency market moves sideways.
Related: Unsigned Dot Bitcoin ETF Traffic Shows BTC is Now a Macro Asset
Secv. RippleLegal overhang continues
Ripple’s ongoing legal cases with the SEC continue to delay. On June 26, District Court Judge Analisa Torres denied a motion seeking an indicative ruling, reiterating that private settlements cannot exceed the power of the court’s final judgment.
According to journalist Eleanor Terrett, Judge Torres statement,,,,,
“The parties have no right to agree not to be bound by the final judgment of the court…they are not close to doing so here.”
Tret added that the judge stressed that if the parties wish to avoid the impact of the ruling, both must withdraw their appeal and allow the judgment to stand or challenge through formal appeal proceedings.
Related: 3 signs that XRP price will explode soon after 4 months of merger
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
