XRP Sees 29% Weekly Gain: What’s Behind the Surge?

XRP surged to $3.16 at press time, marking an 8% increase in the past 24 hours and a 29% gain over the last week. Trading volume climbed to $8.84 billion in the same 24-hour span, reflecting heightened market activity. Analysts credit this rally to intensified whale accumulation and renewed investor interest.

Whales Scoop Up Over 2 Billion XRP

Prominent crypto analyst Ali Martinez revealed that whales have accumulated 2.2 billion XRP in just two weeks. At current market prices, this trove is worth more than $6.6 billion. As buying pressure escalated, XRP’s price steadily climbed, breaching the $3 threshold.

Whales have bought 2.20 billion $XRP in the last two weeks! pic.twitter.com/qpZ2xK7G7J
— Ali (@ali_charts) July 16, 2025

Whale Alert tracked several large XRP transfers that coincide with this price spike. One notable transaction involved the movement of 25.5 million XRP, worth $73.6 million, to Coinbase while XRP traded at $2.92. Additionally, on-chain data identified a transfer of 33 million XRP from Upbit to an unknown wallet and another 40 million XRP shifted between unidentified addresses.

Market research firm Galaxy noted that XRP is approaching price discovery territory, where the asset trades above all previous highs. The last time XRP reached such levels was in 2017. At present, XRP is testing a crucial resistance zone between $3.30 and $3.35. Analysts believe that a monthly close above this range could trigger a new wave of bullish momentum.

Analysts Forecast $4.80 Target If Key Level Breaks

Ali Martinez emphasized the importance of a weekly close above $3. According to him, achieving this could send XRP to $4.80 in the short term, driven by technical breakout patterns.

Data from CoinGlass shows that open interest in XRP perpetual futures has jumped to $9.25 billion up 15% in the last 24 hours. This increase represents roughly 2.93 billion XRP, suggesting a sharp rise in leveraged trading and investor confidence.

In a major development, the U.S. Securities and Exchange Commission approved the ProShares Ultra XRP ETF. Trading under the ticker UXPR, this futures-based product offers investors 2x daily exposure to XRP’s price movements, expanding institutional access to the asset.

Lanre Durojaiye

Mr. Durojaiye Olusola is a finance graduate and cryptocurrency writer with over a year of experience providing market insights and clear, well-researched analysis. Dedicated to helping readers understand blockchain trends and digital asset developments.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.