- Ripple price hits seven-week high, up three-days straight on technical breakout, whale activity, and SEC appeal optimism.
- Whale wallets (holding +1 million XRP) reached a record 2,747 on Thursday, holding approximately $47.33 billion.
- XRP/USD bulls gain traction after breaching six-week resistance and 200-day SMA, targeting four-month horizontal barrier.
- Optimism around the U.S. SEC’s July 10 closed-door meeting and potential appeal adds to XRP’s upside bias.
Ripple (XRP/USD) hits a seven-week high, reaching $2.45 during Thursday’s European session as part of a strong three-day rally. The price gained 2.0% intraday, driven by bullish momentum after breaking above the crucial 200-day Simple Moving Average (SMA) and overcoming a six-month resistance line, which now acts as new support.
This technical breakout has energized XRP bulls, who are also encouraged by increasing activity from whale investors holding large amounts of XRP.
Growing optimism around its ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC) also strengthened the XRP/USD price.
Adding fuel to XRP’s rally, Bitcoin (BTC/USD) recently hit a record high, while Ethereum (ETH/USD) experienced a significant price jump. These gains in the leading cryptocurrencies helped Ripple, the fourth largest crypto by market cap, attract further buying interest as the crypto market braces for the upcoming “Crypto Week.”
Crypto Week, starting July 14, is expected to see the passage of three important bills: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act. Positive expectations around these legislative moves are adding to the broader bullish sentiment in the crypto space, despite some market uncertainty triggered by U.S. President Donald Trump’s recent tariff announcements.
On the regulatory front, Ripple CEO Brad Garlinghouse testified before Capitol Hill on Wednesday, addressing the Ripple case and criticizing what he called the SEC’s anti-crypto agenda. He strongly emphasized that XRP is not a security and highlighted controversial SEC actions under former Chair Gary Gensler. Given President Trump’s favorable stance toward cryptocurrencies and recent changes within the SEC, many expect the SEC to withdraw its appeal against the Programmatic Sales ruling of XRP. This move could lead Ripple and the SEC to file motions to dismiss with the U.S. Court of Appeals, potentially clearing the way for numerous ETF applications currently on hold.
On-chain data further supports XRP’s bullish case. According to Santiment, the number of wallets holding at least one million XRP has reached a record high of 2,747, collectively controlling nearly $47.33 billion worth of XRP at press time. This “smart money” accumulation signals strong confidence among large investors and adds to the overall positive momentum for XRP.
XRP 1M+ Coin Balance By Number & Total Balance Held
Source: Santiment
Technical Analysis
A clear breakout of the 200-day Simple Moving Average (SMA) joins upbeat signals from the 14-day Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators keep XRP buyers optimistic.
XRP/USD: Daily chart amplifies bullish bias
Source: Tradingview
A clear break above the key $2.36 resistance area, which now acts as support, fuels XRP/USD prices. The said level comprises the 200-day SMA and a downward-sloping trendline from mid-January, making the breakout technically significant. The momentum is further supported by a 68.00 RSI, signaling strength without being overbought, and a bullish MACD crossover.
With these indicators aligned, XRP/USD appears poised to test the four-month-old horizontal resistance area around $2.65–$2.70. A decisive move above this zone could pave the way for a run toward March’s high at $3.03 and possibly the yearly peak of $3.40 set in January.
However, the RSI’s proximity to overbought territory suggests some caution. If momentum stalls, a pullback below $2.36 could expose the pair to the late June high near $2.23 and the psychological $2.00 level. Further downside may find stronger support around $1.91 and $1.77, levels that provided a base in March and February.
Overall, XRP/USD remains in a strong position, but a fresh fundamental catalyst may be needed to fuel a breakout beyond $2.66 and sustain further gains.
Conclusion
Ripple (XRP/USD) stands at a critical technical and fundamental juncture. A successful breakout above key resistance levels, rising whale accumulation, positive legislative expectations during the upcoming “Crypto Week,” and shifting regulatory winds—especially in the Ripple vs. U.S. SEC case—have all combined to boost bullish sentiment. While technical indicators support further upside toward $2.66 and beyond, sustained momentum will likely require a strong fundamental catalyst. Traders should watch both price action and regulatory headlines closely as XRP enters a potentially pivotal phase.
