LONDON (IT BOLTWISE) – Cryptocurrency XRP is showing signs of an impending rally after rising almost 6% in the last week. Despite a decline in the three-month period, the token remains up over 400% year-on-year. Technical indicators and on-chain data suggest that another increase could be imminent.
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Cryptocurrency XRP has gained nearly 6% over the past week, offsetting some of last month’s weakness. Despite declining over the three-month period, the token remains up over 400% year-on-year, suggesting that the larger uptrend is intact. A small increase of 7% could be enough to reach the next rally zone. The latest on-chain and chart signals suggest this could happen sooner than expected.
Large XRP holders are increasing their holdings again. Since yesterday, wallets holding over 1 billion XRP have increased their holdings from 25.07 billion to 25.12 billion, an increase of 50 million. Additionally, wallets holding between 10 million and 100 million XRP have added around 70 million coins, increasing their total holdings from 8.15 billion to 8.22 billion. In total, these wallets have added $314 million worth of tokens. This accumulation often occurs when major players expect short-term momentum to increase.
The 4-hour chart supports this assumption as it shows an improvement in the short-term structure. The 20-period exponential moving average (EMA), which tracks recent price momentum, has already crossed the 50-period EMA and is now approaching the 100-period EMA. This would form another Golden Cross. When the faster EMA rises above the longer one, it typically means buying power is growing and traders are starting to position for a breakout.
Combined with steady inflows from whales and strengthening on the short-term chart, the stage is set for a test of key resistance in XRP price. The cost basis heatmap helps us understand where most holders are experiencing potential gains or losses and where they could potentially sell. Data from Glassnode shows that the heaviest supply cluster is between $2.78 and $2.80. This is the zone where approximately 135 million XRP were last acquired. A break above this would mean that offer is absorbed, which often triggers repeat purchases.
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