XRP’s recent 70% rally may have had an early on-chain signal. Santiment found 85 new wallets holding at least 1 million tokens appearing just two days before the August 17-21 surge.
That matters because these larger wallets can absorb supply and strengthen bids while shifting liquidity faster than retail traders. Changes in their numbers have often appeared ahead of XRP’s sharpest moves.
Millionaire Wallets Were Already on the Move
There is also more happening around the XRP Ledger. Ripple backed an RLUSD credit fund focused on fintech and payments lending on XRPL. ZILO and Licuido investments brought tokenization plus transfer-agency and collateral-mobility rails into Ripple’s stack.
Looking toward the rest of the year, Santiment considers the setup to be constructive. Whale wallet numbers remain high, while RLUSD adds settlement utility and institutional tokenization gives XRP a story beyond retail hype.
Separately, AI is also moving further into Ripple’s treasury operations. Just last week, the company announced expanding GSmart to handle a wider range of work for enterprise finance teams. The new capabilities cover forecasting, liquidity, risk, reconciliation, and reporting, and are already being used by Ripple’s enterprise customers.
Despite the gains it had made previously, XRP took the biggest hit among major cryptocurrencies following the Senate’s failure to move the CLARITY Act forward. This is a major blow to an industry that has spent years pushing for a comprehensive US regulatory framework. Over the past day, the token has shed more than 8%.
The broader crypto market was awash in red by Tuesday afternoon as well.
Bullish Setup Takes a Hit
Crypto analyst Diana said XRP could face further downside after the token lost the $1.34 support level and fell quickly toward $1.26. The move weakened its earlier bullish setup, which had pointed toward the $1.70-$1.78 range. The bulls now need to defend the $1.24-$1.26 area.
If that level fails, the analyst said that $1.14-$1.10 could come into focus, followed by the $1.00 mark if XRP drops below $1.1. Diana also flagged that its one-hour RSI had fallen close to 21, which put the token in deeply oversold territory. That could trigger a short-term bounce.
On the institutional front, US-based spot XRP ETFs continued to attract capital. So far in August, they have raked in over $43 million in inflows. If the trend continues, these funds could extend their inflow streak to 10 consecutive weeks.
The post XRP’s 70% Breakout Had a Warning Sign: 85 Millionaire Wallets Moved First appeared first on CryptoPotato.
Source: https://cryptopotato.com/xrps-70-breakout-had-a-warning-sign-85-millionaire-wallets-moved-first/
