XRP has surged past the $3 mark and is showing signs of strength amid a broader crypto market recovery. Analysts and traders are increasingly optimistic, with many predicting a push towards $4 in the coming days or weeks, driven by whale accumulation, robust technical indicators, and network growth.
Price Recovery After Recent Sell-Off
On Monday, XRP price rose by 2 percent over the past 24 hours, recovering from last week’s sell-off, which followed a major 50 billion XRP sale by Ripple co-founder Chris Larsen. Despite this, XRP has managed to hold above the $3 level, suggesting that market confidence remains intact.
At the time of writing, XRP is trading at $3.16. Analysts believe the price needs to stay above key support zones for the current uptrend to continue. TradingView data shows that XRP bounced off a demand zone around $3 after briefly dipping to $2.95 in late June. This drop also resulted in a significant 30 percent decline in open interest, highlighting a potential reset before the next move upward.
Whale Accumulation Supports Price Stability
According to on-chain analytics firm Santiment, large investors—commonly referred to as whales—have been steadily increasing their XRP holdings. Entities holding between 10 million and 100 million XRP now collectively own 8.31 billion XRP, which is around 14 percent of the total circulating supply.
XRP/USD eight-hour chart. Source: Dom
This accumulation trend suggests that whales remained confident even during the recent dip. Their ongoing buying reduces selling pressure and contributes to the formation of a price floor. As a result, smaller investors are likely to follow, potentially accelerating the price rally.
Network Growth Adds to Bullish Momentum
In addition to whale activity, XRP’s network is showing strong growth. New wallet creation on the XRP Ledger remains high, reflecting increased demand for the token. On July 18, the number of new addresses surged to 11,000, while the daily average since has remained around 7,500.
Santiment noted that XRP recently climbed back above $3.25 and continues to gain against Bitcoin, rising over 30 percent in the past 30 days. This combination of network activity and price action has strengthened the bullish outlook for XRP.
Key Levels to Watch Before $4 Breakout
Several market experts are closely watching support and resistance zones that could determine XRP’s next move. Trader Dom pointed out that the $2.95 level aligns with both the monthly volume-weighted average price (VWAP) and the rolling VWAP. He noted that a drop below $2.80 could weaken the current structure.
XRP/USD four-hour chart.
CasiTrades, another popular analyst, identified $3 as a critical support. They said if the token breaks above the $3.30 resistance level—where the 50-period simple moving average currently sits—XRP could rapidly reach new highs. They also mentioned that the next bullish wave, known as Wave 3, could target $3.82 based on Fibonacci extension analysis.
Analysts Predict a Move Toward $4 and Beyond
Multiple experts believe that XRP is entering its most profitable phase. Pseudonymous analyst XForceGlobal stated that XRP is now likely in wave ③ of an Elliott Wave pattern, which historically marks the strongest rally phase.
Veteran trader Peter Brandt echoed this sentiment, citing a “highly rare continuation compound fulcrum” pattern that could send XRP to $4.47. The overall sentiment among traders remains positive, with factors like whale accumulation, technical strength and network expansion boosting confidence in an imminent breakout.
As long as key support levels hold, XRP could be poised for a significant rally that takes it not only to its previous all-time highs but potentially beyond.
