TLDR
- $60M XRP move sparks bullish sentiment on Korean exchange Upbit.
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XRP price eyes breakout to $3.75 as traders watch key technical levels.
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XRP whale activity points to long-term accumulation ahead of breakout.
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XRP’s rising institutional interest boosts confidence in potential price rally.
Ripple’s XRP has captured the attention of traders and investors after a major transfer of 20 million XRP tokens worth approximately $60.6 million. The move, from the South Korean exchange Upbit to an unknown wallet, has raised questions about potential price action and whether a breakout is imminent. As XRP continues to consolidate, many are watching for signals of a bullish trend that could lead to a significant price surge.
Large XRP Move Fuels Bullish Sentiment
The recent transfer of 20 million XRP, valued at $60.6 million, has generated considerable buzz in the market, particularly on top Korean exchange Upbit.
According to blockchain tracker Whale Alert, the large transaction was from Upbit to an unidentified wallet. This type of movement often indicates accumulation by large holders, or “whales,” who are positioning themselves for the long term.
🚨 🚨 🚨 20,000,000 #XRP (60,585,668 USD) transferred from #Upbit to unknown wallethttps://t.co/WIjP5HeLGZ
— Whale Alert (@whale_alert) August 5, 2025
Large withdrawals from centralized exchanges, especially to unknown wallets, are often seen as signs of holders moving their assets into self-custody, securing their tokens in anticipation of future price growth. While this transfer alone does not guarantee a breakout, the bullish sentiment surrounding XRP has grown, as traders speculate about a potential price move.
XRP Price Action and Key Resistance Levels
At the time of writing, XRP is priced at $3.03, up nearly 1% over the last 24 hours. The cryptocurrency recently reached an intraday high of $3.10 but faced resistance at that level.
XRP’s price has been recovering from a low of $2.72, and traders are closely watching whether it can break above $3.10 and maintain momentum.
If XRP manages to sustain gains above $3.10, it may push toward the next resistance level around $3.75. However, failure to maintain momentum could bring the support zone near $2.55 to $2.40 back into play, as some analysts caution that the token could retest lower levels if a breakout does not materialize.
Institutional Interest and Accumulation Trend
XRP’s price movement is further supported by growing institutional interest. Bill Morgan, a well-known XRP enthusiast, highlighted that companies such as Hyperscale and Flora Growth Corp are adding XRP to their balance sheets.
Hyperscale recently filed to acquire $10 million worth of XRP, signaling a significant increase in institutional accumulation.
As XRP continues to be recognized by large entities, its prospects for a price rally remain strong. Institutional players typically look for stability and growth potential, and the addition of XRP to corporate portfolios further validates its role in the digital asset ecosystem.
Technical Analysis and XRP Price Potential Breakout
XRP price action is currently forming a classic falling wedge pattern, similar to what was observed earlier in 2025. Between December and January, XRP consolidated in a falling wedge, which ultimately resulted in a breakout and a 70% price surge.
Traders are hoping for a repeat of this pattern, with the XRP price potentially reaching the $3.75-$4.00 range in the coming weeks.
XRP is now testing the upper trendline of the wedge, and a breakout above this level could trigger a fresh rally. Technical indicators, such as the Relative Strength Index (RSI), show a favorable reset, suggesting that XRP could soon gain momentum. If XRP breaks the wedge and surpasses its short-term resistance levels, the token could experience a strong upward movement.
