Monster 47 billion XRP is now locked

XRP is back in the spotlight on July 10 after climbing to a seven-week high and trading above $2.39 for the first time since May 23

According to the latest data provided by Santiment, 2,742 wallets currently hold at least 1 million XRP each, underscoring a steady build-up in whale participation.

Santiment

XRP's market value has hit a 7-week high, crossing above $2.39 for the first time since May 23rd. What to watch for are the rising number & collective balances of whales holding at least 1M $XRP.

There are currently 2,742 wallets holding at least 1M XRP, one off from… pic.twitter.com/UPPlSWq7TD

— Santiment (@santimentfeed) July 9, 2025

XRP's market value has hit a 7-week high, crossing above $2.39 for the first time since May 23rd. What to watch for are the rising number & collective balances of whales holding at least 1M $XRP.

There are currently 2,742 wallets holding at least 1M XRP, one off from… pic.twitter.com/UPPlSWq7TD

These wallets collectively hold 47.32 billion tokens, almost half of the total supply.

As XRP is currently the fourth-largest cryptocurrency by market cap, traders are speculating on whether the renewed whale confidence could lead to a broader breakout.

XRP price analysis

At press time, XRP was trading at $2.43 with a market capitalization of $143.9 billion and a 14-day Relative Strength Index (RSI) reading 67.15 as per the data provided by CoinMarketCap, indicating bullish sentiment outside overbought territory

CoinMarketCapXRP 24-hour price performance. Source: CoinMarketCapXRP 24-hour price performance. Source: CoinMarketCapAt the same time, the moving average convergence divergence (MACD) histogram has reached +0.022976, the strongest it’s been since May 2025

The recent breakout also coincides with a 36.9% surge in 24-hour trading volume, which has now risen past $5.12 billion

In the meanwhile, institutional and regulatory developments have also been adding to the momentum.

Namely, on July 10, Ripple announced a new custody partnership with BNY Mellon for its RLUSD stablecoin reserves on the XRPL Ethereum (ETH) Virtual Machine (EVM) sidechain.

On the same day, the U.S. Securities and Exchange Commission (SEC) held a closed-door meeting discussing crypto litigation topics, which led to new speculation about the long-running Ripple vs. SEC case.

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