XRP Price Prediction: Whales have increased their holdings by 630 million USD in the past week, triggering a triangle breakout, is it building momentum for a new round of pump?

XRP has shown strong price performance recently, currently trading at $2.94, with a rise of 4.24% in the past 24 hours. Its volume surged by 174.48% to $5.55 billion, indicating strong market activity. The main driver of this pump comes from large investors (i.e., "Whales") who have continuously accumulated, adding approximately $630 million worth of XRP since September 3.

XRP price pump, Whale accumulation becomes the main driving force

In recent trading, XRP has maintained a weekly rise of 5.82%, continuing its bullish momentum. The price increase is mainly attributed to the buying behavior of large investors. Since September 3rd, whales holding over 1 billion XRP and large investors holding between 10 million to 100 million XRP have collectively increased their holdings by approximately 630 million dollars.

The holdings of these major holders increased from 23.86 billion to 23.93 billion, while the holdings of smaller whales expanded from 7.61 billion to 7.76 billion. This accumulation behavior helped XRP break through the key support level of $2.85.

According to CoinGlass trading data, the open interest in XRP contracts has increased by 6.92%, reaching $7.91 billion. The funding rate remains at a positive value of 0.0078%, indicating that derivatives traders have stable confidence in the market outlook.

Technical indicators show mixed results, profit-taking structures create resistance

Although whales continue to accumulate, profit-taking activities pose challenges to the sustained rise of XRP prices. Data shows that the supply of XRP held in profitable positions increased from 85.6% on September 1 to 93.4% on September 7. When the majority of holders are in profit, the selling pressure typically increases to lock in gains. HODL wave data confirms this trend, with short-term and mid-term holders (holding for 3 to 6 months and 1 week to 1 month) both reducing their positions.

XRP has successfully broken through the descending triangle bearish pattern formed over the past few weeks, eliminating the short-term downside risk. However, the technical indicators also show mixed signals:

The Relative Strength Index (RSI) is 51.90, slightly above the neutral level of 50, indicating upward momentum, but it has not yet reached overbought conditions;

The main line of the Moving Average Convergence Divergence (MACD) is 0.00777, while both the signal line and histogram are negative, indicating that selling pressure is weakening.

Key Price Levels and Future Outlook

(Source: TradingView)

Crypto analyst Egrag Crypto emphasized that the current cycle revolves around the key level of $2.94. If XRP can close strongly above this area, bulls may regain control of the price movement:

-The main resistance level will be the 33-day simple moving average (SMA) at $3.01;

• Breaking through the 55-day SMA ($3.07) will provide a stronger trend reversal signal;

-According to technical analysis, $3.40 is the ultimate breakout momentum indicator;

-If it cannot be maintained above the $2.94-3.00 range, the current consolidation period may be extended.

Currently, $2.85 is a direct support level, while $2.69 is a key level to maintain the three-month rising trend. The current market conditions indicate that liquidity is accumulating, which may signal that the next major price movement is about to occur.

Conclusion

XRP is at a critical crossroads. Despite a strong rebound driven by Whales breaking the bearish pattern, the asset must overcome the selling pressure from significant profit-taking. The performance around the $2.94-$3.00 range in the coming trading days will be key in determining whether XRP can sustain its upward movement or enter a longer period of consolidation.