XRP Breaks Out of Year-Long Downtrend as Whales Accumulate $724M

XRP has broken out of its year-long descending channel on the daily chart, marking a significant shift in its technical structure.

The asset, issued by Ripple, surged to around $1.54 after more than a year of subdued price action and intermittent attempts at recovery.

Crypto analyst Amelia reported that whales accumulated over 470 million XRP worth $724 million in just five days near the bottom of the multi-month trading channel.

This breakout marks the end of a steady pattern of lower highs and lower lows, opening the path toward higher target levels.

The closest resistance stands at $1.70, followed by $2.20, $2.70, and finally $3.65, which matches XRP's all-time high and a significant resistance zone on the chart.