XRP price eyes $3 as whale accumulation surges
XRP whale wallets hit new ATH
Ripple is strengthening its position in the stablecoin market by forming a strategic partnership with BNY Mellon. Following the agreement, activity on the XRP network and investor interest in the token surged sharply.
Key highlights:
• Ripple has entered into a strategic partnership with BNY Mellon, appointing the oldest U.S. bank as the custodian of RLUSD reserves.
• The number of XRP whale wallets hit a record 2,743 addresses holding over 1 million tokens.
• XRP surged to $2.96, and trading volume jumped by 103%, indicating growing interest.
• Forecasts suggest a potential XRP price of $22.54 and a market cap exceeding $1.3 trillion.
Ripple has made a major move that could reshape its stablecoin strategy and impact the broader crypto market. The company recently confirmed a strategic partnership with BNY Mellon, designating the oldest bank in the U.S. as the primary custodian of the reserves backing its RLUSD stablecoin. This decision came after RLUSD’s market capitalization exceeded the $500 million mark, marking a key milestone in Ripple’s expansion into stable digital assets.
XRPL whale activity hits record levels
Following the announcement, activity on the XRP Ledger (XRPL) surged. According to blockchain analytics firm Santiment, the number of whale wallets holding more than one million XRP tokens reached an all-time high. In total, these wallets now control 47.32 billion XRP, with 2,743 addresses meeting the threshold. Analysts view this rapid accumulation as a strong bullish signal.
XRP’s price reflected this momentum. On July 11, the token peaked at $2.96 before a slight pullback. At the time of writing, XRP is trading at $2.77, up 1.55% over the past 24 hours. Trading volume soared by 103%, reaching $16.23 billion, indicating rising interest from retail investors. As the price hovers near the $2.96 resistance level, traders anticipate a breakout toward $3 and beyond. Some are forecasting mid-term targets of $3.40 and even $5.
XRP price dynamics. Source: TradingView
Market trends and memecoin warnings
Meanwhile, other altcoins are also gaining momentum. Santiment noted that many have recently outperformed Bitcoin, but emphasized that BTC must stay above the $110,000 mark for the altcoin rally to continue. Ethereum has also drawn attention, as whale wallets holding over 10,000 ETH now control more than 75% of the supply — the highest level since 2017.
Memecoins led the market last week with an average gain of 17%. However, Santiment analysts warn that this trend could indicate an overheated market and the risk of a short-term correction.
Market outlook and XRP’s future
XRP received an additional boost from Ripple CEO Brad Garlinghouse, who spoke at the U.S. Senate's CLARITY Act hearing, sparking regulatory optimism. Predictions about XRP’s future are spreading rapidly among crypto influencers. Analyst Alex Cobb forecasts XRP could reach $22.54 by December 2025, offering an 8X return and pushing its market cap above $1.3 trillion — potentially surpassing Ethereum.
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While skeptics remain, several prominent experts have revised their outlooks. With growing momentum and a potential breakout ahead, XRP could significantly shift the balance of power in the crypto market.
Also read: Inflows into Bitcoin ETFs exceeded 158 billion dollars
