XRP Soars to 7-Week High—Key Metric Signals More Bullish Momentum Ahead

XRP just punched through its highest price level in nearly two months—and the charts hint this rally isn’t done yet.

The breakout play

After weeks of sideways action, the remittance token cracked resistance like a Wall Street intern cracking under pressure. Traders are now eyeing a critical on-chain signal that historically precedes major moves.

Liquidity hunters circle

Order books show market makers loading up while retail FOMO still lags—a classic setup for continuation. The 200-day moving average just flipped from resistance to support, and you know what that means in crypto-land: ‘number go up’ season might be back.

The cynical footnote

Of course, in an asset class where ‘fundamentals’ means Elon Musk’s latest tweet, technicals are the only gospel left. Just don’t tell the SEC.

One of the possible reasons behind the price pumps in the past few hours could be linked to US President Trump’s call for a massive interest rate cut by the Federal Reserve. After all, riskier assets like crypto should benefit from such a monetary move.

XRP is among the top performers on a daily scale, climbing by nearly 4% and reaching the aforementioned seven-week peak. Moreover, the fourth-largest cryptocurrency has gained over 25% since its monthly bottom at the end of June at $1.9 during the Israel-Iran war.

According to data shared by Santiment, Ripple’s price pump could also be attributed to large investors accumulating substantial portions of its supply. In fact, the number of wallets holding at least a million XRP reached a new all-time high yesterday at 2,743. Today, the number is just shy of that peak, Santiment said.

XRP’s market value has hit a 7-week high, crossing above $2.39 for the first time since May 23rd. What to watch for are the rising number & collective balances of whales holding at least 1M $XRP.

There are currently 2,742 wallets holding at least 1M XRP, one off from… pic.twitter.com/UPPlSWq7TD

— Santiment (@santimentfeed) July 9, 2025

The analytics platform believes this shows growing confidence in XRP’s future. Additionally, smaller (retail) investors could follow suit by seeing this accumulation pattern by the so-called ‘smart money,’ which might result in further gains for Ripple’s token.

The XRP Army has certainly been vocal about its bullish belief in the asset’s price trajectory, and some analysts have indicated that reclaiming the $2.38 resistance could result in a quick 12% surge to $2.60.