XRP Surge 30% Amid Whale Accumulation: Do Ripple Bulls Have What It Takes To Break $0.55?

XRP is rapidly turning around, looking at events in the daily chart. After consolidating for weeks within a narrow range, prices exploded on July 12 and 13. The result was a solid close above $0.50 and a retest of $0.55 in a refreshing turn of even that signals a potential shift in trend. From the candlestick arrangement, the uptrend remains, and buyers can explore loading opportunities. This will especially be the case should prices continue trending above $0.50 in the upcoming sessions.

The recovery of the past three days means XRP is volatile when writing. Of note, the coin is up 2% in 24 hours but up double-digits in the past week, adding 25%. Following this uptick is a surge in participation, which now stands at over $2.3 billion on the previous day. If buyers press on, any breach of $0.55 might trigger more gains, lifting sentiment and, thus, trading volume.

Traders are keenly watching the following Ripple and XRP news today:

• As prices move, Ripple whales are accumulating. The latest report shows that they have scooped more than 300 million XRP in two days. The more whales and diamond hands there are, the stronger the uptrend will be.
• Ripple and the United States SEC lawyers are reportedly holding private talks. Some now claim the closed-door meeting revolves around a possible resolution of the ongoing court case.

XRP Price Analysis

XRP/USD is firmly up.

Since the coin is up 33% from July 8, the shift in momentum is favorable for Ripple bulls.

Crucially, all losses of July 4 and 5 were reversed.

What this means is that traders can look to pick the dips above $0.50.

Conservative traders can wait for a clean break of $0.55 before committing.

If the breakout is with rising volume, confirming gains of July 13, XRP will likely fly to $0.66 in a bull trend continuation formation.

XRP is within the broader $0.46 to $0.55 range, with whales possibly accumulating.