Key Insights:
- Ripple quietly moved $738 million in XRP, which turned out to be an internal transfer, rather than a sell-off.
- XRP surged by 20% and is now approaching its 2018 all-time high while this happened.
- New ETF approvals and regulatory clarity are great signals for strong institutional support.
In XRP news today, Ripple shocked the market by moving over $738 million worth of XRP. This happened just as the token experienced a 20% price rally.
While the transaction initially raised fears of a sell-off, it was an internal wallet shuffle. This move, combined with increased institutional interest and favorable regulation, indicates that XRP is poised for further growth.
XRP News Today: Ripple’s Massive $738M Transfer Was Internal
The crypto community was stunned when Whale Alert flagged a transaction moving 210 million XRP. This transaction moved tokens worth over $738 million, and appeared to be coming from one of Ripple Labs’ wallets.
Initially, the destination of the funds was unclear. It was a major source of speculation as investors feared a sell-off.
However, further analysis confirmed that the transaction was internal. XRP news today indicated that Ripple had shifted XRP between its subwallets.
These were activated initially back in June 2022. There was no actual sale involved, and investors calmed down.
XRP News Today Shows Price Rising by 20%
This internal movement happened during one of XRP’s most bullish weeks in years. The token has so far jumped from $3.02 to $3.65 in the last week, marking a nearly 20% surge.
This also means that XRP is up nearly 80% over the last month. Per XRP news today, this puts the cryptocurrency within 20 cents of its all-time high of $3.85, from January 2018.
Several major developments contributed to this breakout. First, ProShares’ launch of a new XRP futures ETF attracted massive institutional interest. Second, Congress passed the GENIUS Act, which brought more clarity to the stablecoin market.
This has so far benefited Ripple’s newly launched RLUSD stablecoin and lifted investor confidence for XRP and across the board.
Futures Market Explodes With Institutional Demand
Alongside the price surge, CME futures for XRP exploded in volume. Open interest hit 108,000 contracts, equivalent to $10.1 billion in notional value. This level of futures activity confirms strong demand from hedge funds and professional traders.
On July 22, XRP saw a record trading day, with daily volume reaching $9 billion. These are not small retail transactions; this is big money betting on XRP’s long-term rise.
Market sentiment turned sharply bullish. This happened as analysts began setting short-term targets of $6.00 and long-term projections as high as $15.00.
XRP Breaks Triangle Pattern, Holds Support
Technical analysts have watched XRP break through a year-long symmetrical triangle pattern. This breakout took place above the $3.00 level and confirmed strong momentum.
So far, prices touched a high of $3.64 before institutional profit-taking brought them back to $3.51. Still, XRP news today suggested that XRP continues to hold above the psychological.
It is also holding technical support at $3.50. This confirms that buying interest is strong, even as short-term traders take gains. The RSI and MACD indicators are also neutral, and indicate that there’s still room for a move in either direction.
What’s Next for XRP?
Considering the ProShares ETF launch, the rising futures interest, and Ripple’s strong wallet activity, XRP is in a strong position. The current support level at $3.50 will be fundamental in the short term.
If the price holds above this zone, traders may push it past $3.85 to discover new highs. Analysts are keeping an eye on whether institutional buyers return after recent profit-taking.
They’re also watching for updates on spot ETFs and shifts in U.S. crypto policy. Even if short-term consolidation happens, the long-term setup is bullish.