XRP is roaring back into the spotlight, surging past $2.60 after whale moves $782 million worth of XRP
The XRP XRP $3.24 24h volatility: 3.0% Market cap: $192.08 B Vol. 24h: $7.63 B market is witnessing renewed momentum following two massive whale transactions totaling 370 million tokens, alongside a surge in on-chain activity on the XRP Ledger.
According to XRPSCAN data, the first week of May saw over one million on-chain transactions, driven predominantly by payment activity.
Meanwhile, XRP trades at $2.60, up 10.45% in the past 24 hours while the trading volume of the digital asset soared 61.47% to $7.3 billion, suggesting increased demand from market participants.
Whale Transfers Signal Strategic Positioning
On May 12, blockchain tracker Whale Alert reported two significant XRP transfers. The first involved 70 million XRP, valued at approximately $148.3 million, sent from an unknown wallet.
The second, a far larger transaction of 300 million XRP, worth around $633.7 million, originated from a Ripple-controlled wallet and was sent to another unidentified address.
🚨 🚨 🚨 🚨 🚨 🚨 70,000,000 #XRP (148,344,877 USD) transferred from unknown wallet to unknown wallethttps://t.co/gdX2IDZxaC
— Whale Alert (@whale_alert) May 7, 2025
While the origin and intent of these transfers remain unclear, many in the community believe they may represent Ripple’s internal treasury rebalancing or preparations for a major institutional partnership.
These movements came as XRP dipped slightly to $2.12 before quickly hitting a daily high of $2.64. The token has shown impressive resilience despite the large-scale transfers.
Technical Indicators Paint a Bullish Picture
According to the chart below, XRP aims to push above the 0.786 Fibonacci retracement level at $2.66, a key resistance zone.
The next price target, based on the Fibonacci extension, lies at the 1.618 level around $3.29. This aligns with the previous major high of $2.83, indicating a possible retest or even breakout if momentum sustains.
XRP Daily Chart with RSI, MACD, and Fib levels | Source: TradingView
The MACD indicator shows that the MACD line has crossed above the signal line, with both trending upwards, indicating bullish momentum. The histogram is also increasing positively, reinforcing the trend continuation narrative.
On the other hand, the RSI is approaching the overbought zone, currently sitting near 69.4. While this indicates strong buying pressure, it also warrants caution as the asset could become overheated if it crosses 70 without a correction.
Accumulation Continues Despite Volatility
Further supporting bullish sentiment is the Accumulation/Distribution (A/D) line shown in the chart below.
The A/D line is climbing steadily and currently reads 74.2 billion, suggesting that investors are continuing to accumulate XRP even as prices fluctuate.
This divergence between price volatility and accumulation is often a precursor to a breakout rally, as it reflects underlying confidence in the asset’s long-term potential.
XRP A/D line and BoP | Source: TradingView
The Balance of Power (BoP) indicator sits at 0.73, deep in positive territory, which means buyers are clearly in control of the market.
Historically, a BoP reading this high has often preceded sustained price moves, adding weight to the possibility of XRP challenging its next resistance zone near $2.83 and eventually pushing toward $3.29.
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