Key takeaways:
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XRP’s 90-day moving average of whale flows turned positive in May, hinting at renewed interest and a potential breakout setup for Q4.
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Wallets holding over 1 million XRP hit an all-time high, while mid-tier wallet growth rose 6.2%—signaling strong long-term holder conviction.
After peaking at an all-time high of $3.40 in January, XRP (XRP) has shown modest returns on investment over the past several months. Despite consistently closing every monthly candle above the $2 mark since December 2024, XRP’s Q2 trading volumes on Binance have fallen to their lowest levels since August 2020, reflecting a decline in market participation.
XRP whale activity hints at a breakout setup
Recent data from CryptoQuant suggests that whale addresses could be positioning themselves for an imminent breakout. Notably, XRP’s 90-day moving average whale flows shifted to positive territory at the beginning of May, a reversal from the sharply negative flows observed between January and April, which marked a prolonged correction phase.
This renewed influx of whale capital hints at strengthening market sentiment. Additionally, a detailed examination of the chart indicates that the bullish trend in whale flows began in early August 2024, eventually correlating with a 420% breakout for XRP in Q4.
The magnitude of these flows, currently surpassing last year’s levels, may drive XRP to new highs as early as Q4 2025.
Wallet data highlights investor confidence
Supporting the bullish onchain development, futures trader Dom noted significant activity in large XRP wallets. Specifically, wallets holding over 1 million XRP reached an all-time high of 2,850, while those with holdings exceeding 10,000 XRP increased by 6.2% year-to-date to 306,000.
Despite several months of stagnating price action, this persistent growth in large-scale accumulation underscores robust long-term investor confidence in XRP.
Meanwhile, data analytics platform Santiment pointed out that XRP sentiment has reached a 17-day high, fueled by a stalled $50 million settlement between Ripple and the SEC.
This development contradicts the waning optimism surrounding Bitcoin (BTC) and Ether (ETH), which have seen reduced retail interest as the crypto market moves sideways.
Related: Unhedged spot Bitcoin ETF flows show BTC is now a macro asset
SEC v. Ripple legal overhang continues
Ripple’s ongoing legal case with the SEC continues to drag on. On June 26, District Judge Analisa Torres denied a motion seeking an indicative ruling, reiterating that private settlements cannot override the authority of a court’s final judgment.
According to journalist Eleanor Terrett, Judge Torres stated,
“The parties do not have the authority to agree not to be bound by a court’s final judgment… They have not come close to doing so here.”
Terret added that the judge emphasized that if the parties wish to avoid the implications of the ruling, both must either withdraw their appeals and allow the judgment to stand or challenge it through the formal appeals process.
Related: 3 signs that XRP price will soon break out after 4-month consolidation
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.