XRP price saw a 400% jump in network activity after the SEC ended its Ripple lawsuit. Analysts eye a $4.35 breakout amid rising whale accumulation and ETF anticipation.
XRP continued to trade near $2.45, holding firm after facing rejection at $2.60 earlier in the week.
Despite macroeconomic headwinds, on-chain data suggests investors remain confident, as whale accumulation and active addresses reached new highs this month.
Ripple’s legal battle with the United States Securities and Exchange Commission (SEC) also reached a turning point.
The agency dropped its appeal against the company, paving the way for renewed speculation over a possible exchange-traded fund (ETF) approval in 2025.
On-Chain Activity Spikes Amid ETF Hopes
According to data from Santiment, XRP’s daily active addresses have surged more than 400% since early March.
The increase, which brought total active addresses to over 627,000—the highest since April 2023—suggests a renewed wave of participation from retail and institutional wallets.
Ali Martinez, a crypto analyst at Santiment, noted the spike in a post on X, highlighting that the XRP network “lights up” amid fresh price momentum.
Dormant circulation also declined this week, hinting at reduced sell pressure as long-term holders paused distribution.
Meanwhile, Ripple CEO Brad Garlinghouse told Bloomberg he expects an XRP ETF to go live in the second half of 2025.
“I have immense confidence in the [XRP] ETF,” he said, reinforcing market sentiment that the token may soon gain institutional access similar to Ethereum and Bitcoin.
Whales Accumulate Over $14 Billion in XRP
Large wallets continued to accumulate XRP even as prices cooled from their mid-week high.
Santiment data shows wallets holding between 1 million and 10 million XRP increased their holdings by 10% in the last two months.
The collective total now stands at 5.81 billion XRP, worth approximately $14 billion. However, wallets with 10 million to 100 million XRP showed mixed behavior—some accumulating, others distributing—suggesting uneven sentiment among large holders.
The ongoing accumulation aligns with optimism over regulatory clarity. With the SEC dropping its lawsuit appeal and crypto exchange Bitnomial withdrawing its complaint against the agency, speculation over Ripple’s institutional positioning has intensified.
Still, Ripple faces a key legal hurdle. As lawyer John Deaton told Cointelegraph, an injunction by Judge Analisa Torres continues to block the firm from distributing XRP to institutional clients. Deaton said,
“If Ripple wants to issue XRP to banks in America, that injunction is the hang-up.”
XRP Price Technical Setup Eyes $4.35 Breakout
According to an analysis by Amonyx, XRP’s price action mirrors a symmetrical triangle pattern.
The formation, often seen as a bullish continuation pattern, points to a breakout target of $4.35—roughly 80% above current levels—if the upper trendline is breached.
XRP bounced near the lower trendline of the triangle, showing early signs of continuation.
However, funding rates in the derivatives market remain negative, according to data from Coinglass, suggesting traders remain cautious.
Analyst Ito Shimotsuma said in a post on X that XRP/BTC has also faced repeated rejection at resistance.
While bullish fundamentals are building, he believes only a spot ETF approval will trigger a decisive breakout.
XRP’s outlook remains mixed despite growing on-chain activity, renewed ETF speculation, and whale accumulation.
While legal clarity offers tailwinds, technical and market data suggest caution persists among derivatives traders.
As ETF filings from Bitwise and Franklin Templeton remain under review, market participants now await a regulatory green light to determine XRP’s next major move.
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