47.32 Billion XRP Locked In: Will Price Surge to $3.30?

XRP continues to turn heads in the market after hitting its highest price in over seven weeks, thanks to a surge in whale accumulation and institutional tailwinds. On-chain data from Santiment reveals that wallets holding at least one million XRP now collectively own a staggering 47.32 billion XRP, signaling strong conviction from whales.

The price of XRP recently hit $2.43, up 6.53% over the past week and continuing to gain traction amid bullish technical signals. With crypto whales and major institutions doubling down on the asset, analysts are increasingly confident XRP could reach $3.30 by the end of July.

XRP Whale Wallets Near All-Time High

According to the latest data, 2,742 wallets now hold over one million XRP, just shy of the all-time high of 2,743. This indicates growing confidence among high-net-worth holders, especially as Ripple, XRP’s parent company, continues to pursue strategic global expansions.

Two major transactions have recently caught analysts’ attention:

• 25.5 million XRP transferred to Coinbase (~$60 million)
• 200 million XRP moved from Ripple to an unknown wallet (~$477 million)

These transfers are often interpreted as preparations for significant announcements or restructuring, possibly tied to Ripple’s regulatory or product developments.

Institutional Adoption Drives Bullish Momentum

Ripple’s ongoing push for regulatory clarity is strengthening XRP’s appeal to institutional investors. Key developments include:

• BNY Mellon designated as the reserve custodian for Ripple’s stablecoin RLUSD
• ProShares XRP ETF listed on the DTCC, hinting at a potential U.S. ETF approval
• Ripple’s RLUSD stablecoin surpasses $500 million in supply
• Ripple’s application for a U.S. banking license
• CEO Brad Garlinghouse’s testimony before the U.S. Senate

These milestones point to a long-term strategy of integrating XRP into traditional finance infrastructure, potentially unlocking vast new markets and further boosting demand.

Technical Indicators Signal More Upside

From a technical perspective, XRP is forming a bullish ascending channel. It currently trades above key exponential moving averages, reinforcing the uptrend:

• 50-EMA: $2.2918
• 200-EMA: $2.2283

With current resistance at $2.4668, a breakout above this level could see XRP targeting $2.5306, then $2.5908, and potentially $3.30 if bullish sentiment holds.

The MACD has shown a golden cross, the Awesome Oscillator (AO) is surging, and the Chaikin Money Flow (CMF) is positive, all aligning to confirm strong bullish momentum. The RSI is at 67.48—approaching overbought territory but still leaving room for more upside.

Inverse Head and Shoulders Hints at Major Breakout

Technical analyst TheSignalyst points out that XRP has formed an inverse Head and Shoulders pattern, often a signal of trend reversal and potential breakout. This pattern is forming near long-standing support levels, adding credibility to the forecast.

If XRP can break decisively above $2.66, the analyst believes a surge to $3.30 is highly plausible before the end of the month.

Conclusion: Can XRP Hit $3.30?

With strong whale accumulation, regulatory progress, and favorable technical signals, XRP is well-positioned for further gains. As long as institutional interest and market momentum continue, the $3.30 target may not be far-fetched.

For traders and investors, the coming weeks could prove pivotal in XRP’s long-term trajectory—especially with Ripple pushing deeper into traditional finance and stablecoin ecosystems.