XRP is back in the spotlight on July 10 after climbing to a seven-week high and trading above $2.39 for the first time since May 23.
According to the latest data provided by Santiment, 2,742 wallets currently hold at least 1 million XRP each, underscoring a steady build-up in whale participation.
These wallets collectively hold 47.32 billion tokens, almost half of the total supply.
As XRP is currently the fourth-largest cryptocurrency by market cap, traders are speculating on whether the renewed whale confidence could lead to a broader breakout.
XRP price analysis
At press time, XRP was trading at $2.43 with a market capitalization of $143.9 billion and a 14-day Relative Strength Index (RSI) reading 67.15 as per the data provided by CoinMarketCap, indicating bullish sentiment outside overbought territory.
At the same time, the moving average convergence divergence (MACD) histogram has reached +0.022976, the strongest it’s been since May 2025.
The recent breakout also coincides with a 36.9% surge in 24-hour trading volume, which has now risen past $5.12 billion.
In the meanwhile, institutional and regulatory developments have also been adding to the momentum.
Namely, on July 10, Ripple announced a new custody partnership with BNY Mellon for its RLUSD stablecoin reserves on the XRPL Ethereum (ETH) Virtual Machine (EVM) sidechain.
On the same day, the U.S. Securities and Exchange Commission (SEC) held a closed-door meeting discussing crypto litigation topics, which led to new speculation about the long-running Ripple vs. SEC case.
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