Whale selling pressure on XRP just dropped to its lowest recorded level since 2025. That's the freshest data point in a string of converging signals that have traders watching the token closely this week.

Earlier this year, large holders were routinely moving hundreds of millions of XRP to exchanges, which kept a ceiling on any sustained rally. Those exchange inflows have since fallen sharply. Blockchain metrics now show the opposite trend: major wallets are accumulating, not distributing. Buying from large addresses typically reduces the immediate overhead supply that tends to cap price moves.

The on-chain shift comes as XRP cleared $1.13, a level that had acted as significant resistance for months. Holding above it matters. Market analyst Dark Defender, citing Elliott Wave structure and Fibonacci extension levels, put the next upside target at $1.2269, noting on July 21, 2026 that the asset is on track to complete a five-wave structure first mapped out on June 30. His call: $1.13 is the key, $1.22 is in sight.

Two technical signals arriving at once

A golden cross also formed around the same time, the shorter-term moving average crossing above the longer-term one. On its own, that pattern signals improving medium-term momentum but guarantees nothing. What makes this instance more notable is the timing: the golden cross appeared alongside a confirmed resistance breakout rather than in isolation. Traders generally treat that combination as a stronger setup than either signal alone.

Dark Defender's framework keeps the bullish case conditional. A sustained hold above $1.13 keeps the five-wave structure intact. A slip back below that zone reopens a test of lower support levels, and the whole technical thesis needs reassessment.

Meanwhile, activity on the XRP Ledger itself crossed 500,000 daily payments, a figure that reflects actual network usage rather than just speculative positioning. Whether that translates into sustained price momentum is the question the market is now trying to answer at the $1.22 resistance.

This article is for informational purposes only and does not constitute financial advice. Crypto assets carry significant risk; always do your own research before making any investment decision.