XRP breaks out of year-long downtrend, whales buy $724 million in 5 days

Technical breakout after prolonged consolidation

For over a year, XRP traded within a descending channel on the daily chart, with price compressing and trading volumes diminishing. Within this range, a secondary bullish flag emerged, reflecting intermittent attempts at recovery. During this period, XRP briefly fell below $1, as several analysts had anticipated, but quickly rebounded from a local bottom near $0.99.

In late August, XRP staged a rapid rally but retraced shortly after, consolidating within the bull flag. Recent technical movement shows the asset breaking above both the inner flag and the broader descending channel, signaling a structural change to the upside in price action.

The chart identifies multiple horizontal resistance zones based on previous support and resistance points from 2025 and early 2026. This breakout marks the end of a steady pattern of lower highs and lower lows and opens the path toward higher target levels.

Ripple, the company behind XRP, has seen the asset break above both its long-term descending channel and the internal bullish flag on the daily chart, indicating renewed market momentum and potential for significant upward movement.

Increased whale accumulation

On-chain data has provided additional confirmation for the ongoing technical breakout. Crypto analyst Amelia reported that whales accumulated more than 470 million XRP over a five-day period, translating to $724 million in fresh inflows. These large-scale purchases were made near the bottom of the multi-month trading channel, suggesting institutional investors are positioning ahead of the upward move.

Amelia noted a lack of retail participation during this phase, as most individual traders had withdrawn from XRP during its decline. The timing and volume of these accumulations underline heightened conviction among larger holders, who acted before the breakout became evident on public charts.

Mini dictionary: On-chain data refers to transparent, real-time information recorded directly on a blockchain, such as transaction amounts, wallet addresses, and asset flows, allowing analysts to track investor activity without intermediaries.

During the period when retail interest faded, whales accumulated $724 million worth of XRP within five days, positioning for a structural shift in the market.

XRP price targets and projections

Amelia’s analysis outlined four major price targets for XRP following the breakout. The closest resistance stands at $1.70, followed by $2.20 and $2.70. The final major target is set at $3.65, which matches XRP’s all-time high and a significant resistance zone on the chart. These targets are drawn from historical price structures and key technical levels observed in prior market cycles.

Projections suggest that XRP’s ascent toward the $3.65 level could unfold over the next several weeks, potentially extending into November 2026. These price objectives are subject to market conditions and broader sentiment shifts but are being closely tracked by market participants in the wake of the confirmed breakout.