XRP Price Breaks Downtrend with $1.50 in Sight as Regulatory Optimism and Whale Accumulation Drive Token Higher

XRP's price has broken out of its months-long downtrend, reaching as high as $1.43 on August 21 after a sharp reversal from a decline to approximately $0.99 earlier in the week.

The token gained about 20% over the previous 24 hours, with its daily candle up 9.5% from an opening price of $1.27, according to data from crypto.news.

The breakout was driven by regulatory optimism following President Donald Trump's meeting with crypto executives, including Ripple CEO Brad Garlinghouse, as well as whale accumulation and forced short covering.

Analyst Ali Martinez reported that wallets tracked as whales acquired over 300 million XRP in 96 hours, while the proposed institutional lending market on the XRPL Ledger, announced by Ripple, Clearpool, and Cicada Partners, could also be a catalyst for the token's price action.