XRP briefly touched a two-week high near $1.16 on July 22 before retreating, as a confluence of factors—including whale accumulation, rising AI-related activity on the XRP Ledger, and continued inflows into spot XRP exchange-traded funds—boosted sentiment. The token traded around $1.13 at press time, up roughly 2% over the past week, with a market capitalization above $71 billion, according to CoinGecko.
The rally coincided with Bitcoin's recovery above $65,000, which lifted broader crypto market sentiment. However, profit-taking near the $1.16 level capped gains, leaving XRP just below that resistance zone. The token's ability to reclaim the $1.15–$1.16 area is seen as critical for further upside.
AI Transactions on XRP Ledger Surpass 1 Million
A separate catalyst emerged from the XRP Ledger, where the network has now processed over 1 million agentic AI transactions, according to RippleX engineering head J. Ayo Akinyele. These transactions involve autonomous payments for services such as computing, API access, and data retrieval, with the XRP Ledger settling transfers in three to five seconds at predictable costs. Akinyele expects developer activity to accelerate, projecting the network could reach 10 million and eventually 100 million such transactions within the next couple of years.
Whale Accumulation and ETF Demand Support Price
Large investors have been accumulating XRP during the recent recovery, data from blockchain analytics firm Santiment shows. Wallets holding between 100,000 and 100 million XRP increased their combined balances by 2.8% over the past five weeks. In contrast, wallets with less than 0.1 XRP saw their balances decline by 5.2% during the same period. Santiment noted that this divergence suggests whales and shark wallets are buying while smaller holders reduce exposure, though it cautioned that whale accumulation alone does not explain the price move.
Institutional demand also remained positive. U.S. spot XRP ETFs recorded $5.7 million in net inflows on July 21, lifting cumulative net inflows to approximately $1.5 billion, according to SoSoValue. For context, similar trends have been observed in other digital assets; for instance, Dogecoin whales have accumulated 200 million DOGE as open interest hit $1.11 billion, signaling potential breakout momentum.
Technical Analysis: Resistance and Momentum
From a technical perspective, XRP's daily chart shows the recovery remains intact but faces significant overhead resistance. The token trades above its 20-day exponential moving average (EMA) near $1.12, indicating short-term buyer control. However, the 50-day EMA around $1.15 aligns closely with the recent rejection zone, making it the first key level for bulls to reclaim. The Relative Strength Index (RSI) has climbed to around 55, above its signal line but below overbought territory, suggesting buying momentum has strengthened without becoming excessive.
Longer-term resistance remains formidable. XRP is still below the 100-day EMA near $1.23 and the 200-day EMA around $1.44, leaving the broader trend unconfirmed. On the 4-hour chart, the Moving Average Convergence Divergence (MACD) has produced a bearish crossover, indicating waning momentum after the rally. However, On-Balance Volume (OBV) remains near recent highs, suggesting buyers have largely held positions rather than exiting aggressively.
If XRP can break above the $1.15–$1.16 resistance, the next technical target would be the 100-day EMA near $1.23. On the downside, maintaining support above the 20-day EMA around $1.12 is crucial to preserve the recovery. A break below that level could expose XRP to a retest of the $1.08–$1.10 area, where buyers recently stepped in. For broader market context, Bitcoin's test of $65,000 resistance and ETF inflows have been key drivers of crypto sentiment.
The coming sessions will test whether whale buying and AI-driven demand can sustain momentum above $1.15, or if profit-taking will keep XRP range-bound. Meanwhile, XRP's hold above $1.08 has traders eyeing a breakout from a recurring technical pattern, adding to the narrative of a potential move higher.
This article is for informational purposes only and does not constitute financial advice.
