- XRP’s price sits around $2.43 after a rejection at $2.60, despite a massive 400% surge in network activity and growing whale accumulation.
- SEC dropped its case against Ripple, boosting investor confidence; Ripple CEO hinted an XRP ETF could launch in late 2025.
- Technical indicators show mixed signals, with strong on-chain support but bearish funding rates and resistance near $2.60 possibly slowing momentum.
Ripple’s XRP is dancing just above $2.40 on Thursday, after taking a hard stop at the $2.60 resistance. The price dipped a bit, yeah, but the on-chain story? Totally different. Network activity for XRP has exploded—up over 400% since early March. And with the SEC officially dropping its appeal against Ripple… things might just be getting warmed up.
Whales Keep Stacking XRP As Activity Blows Up
Let’s talk whales. Big ones. The kind that hold between 1 million and 10 million XRP. They’ve been scooping up tokens like there’s no tomorrow—adding 10% more to their bags in just two months. That brings their total stash to around 5.81 billion XRP (roughly $14 billion).
Meanwhile, the largest whale wallets (10M to 100M XRP) are showing mixed signals—some adding, some trimming. Not exactly a clear trend, but worth watching.
But here’s where things get interesting—daily active addresses on the XRP network have quadrupled since February. That’s a huge jump and a strong indicator of growing user engagement. On top of that, the Dormant Circulation metric suggests holders are chillin’. Very little movement, even during Wednesday’s price surge. HODL mode: activated.
Wait… Why’s Derivatives Data Looking Bearish?
Despite all this bullish on-chain activity, the derivatives market is not exactly screaming “to the moon.” Funding rates are actually in the red, according to Coinglass. That’s not necessarily terrible, but it hints at a bit of hesitance in the futures space. Might explain why XRP couldn’t hold its recent pump and slid back after that 14% midweek rally.
Ripple CEO Talks Big on XRP ETF
Ripple CEO Brad Garlinghouse popped up on Bloomberg and dropped a big one: he’s feeling confident that an XRP ETF will launch in the U.S. later this year. “I have immense confidence in the ETF,” he said. “Second half of 2025, you’ll see it live.” Ambitious? For sure. Impossible? Not anymore.
The SEC recently paused decisions on a handful of XRP ETF filings from firms like Bitwise, 21Shares, and Franklin Templeton. But if momentum keeps building—and if XRP really is included in the U.S. digital asset reserve—that could change fast.
Chart Watch: XRP’s Fight With $2.60
XRP just got slapped back from $2.60 and is now hovering around $2.43. In the last 24 hours, $13.86 million in futures positions were liquidated—most of them longs. Classic shakeout vibes.
If XRP can bounce off the upper edge of its descending channel, a retest of $2.60 is on the table. And if that breaks? Eyes shift to $2.78, $2.95, and the big one—$3.40, which hasn’t been touched in nearly seven years.
Still, technicals are a little shaky right now. Both the RSI and Stochastic Oscillator are flirting with bearish crossovers. A daily close below that descending channel would likely send XRP down toward $1.96. So yeah, bulls gotta defend hard.
Bottom Line?
XRP’s on-chain strength and positive legal tailwinds are solid. But unless it breaks through that $2.60 resistance soon, we might see more sideways (or worse) price action. Still, with ETF chatter, whale buys, and rising network activity, XRP might just be setting the stage for something bigger.
