• XRP has recorded its strongest weekly gain since November, driven by a surge in whale wallet activity and growing institutional confidence.

• Veteran trader Peter Brandt forecasts a potential 60% rally, targeting $4.47, based on a rare technical setup on XRP’s weekly chart.

• Onchain data from Glassnode indicates XRP is transitioning into a “belief–denial” phase, signaling sustained investor conviction without signs of capitulation.

XRP’s strongest weekly gain since November, fueled by whale accumulation and a rare technical setup, points to a potential 60% rally toward $4.47.

Technical Analysis Suggests XRP Could Surge to $4.47 Amid Rare Chart Formation

In a recent update, renowned chartist Peter Brandt identified a “highly rare continuation compound fulcrum” pattern forming on the XRP/USDT weekly chart. This complex base formation, characterized by multiple smaller patterns such as failed breakdowns and wedges, typically precedes significant price movements. Brandt’s analysis suggests that once this pattern resolves, XRP could experience a rally of approximately 60%, pushing prices toward the $4.47 mark.

This setup reflects a period of market indecision where weaker holders are shaken out, allowing stronger hands to accumulate positions. However, Brandt cautions that a decisive break below the $1.80 support level would invalidate this bullish scenario. The compound fulcrum’s rarity and complexity make it a noteworthy indicator for traders seeking to anticipate major trend continuations.

Whale Wallet Accumulation Supports XRP’s Strongest Weekly Performance Since November

XRP’s recent price surge aligns with a record high in the number of wallets holding at least 1 million XRP tokens, signaling increased confidence among large investors. This accumulation by “whales” often precedes substantial price rallies, as these holders typically have the resources and conviction to influence market dynamics.

The week ending July 13 saw XRP rise approximately 25%, marking its best weekly gain in over half a year. This performance coincides with broader positive momentum in the crypto market and growing signs of an “altcoin season.” According to onchain analytics provider Santiment, as long as Bitcoin maintains support above key psychological levels, traders are likely to rotate profits into altcoins like XRP, further bolstering its upside potential.

Onchain Sentiment Metrics Indicate Healthy Investor Conviction

Glassnode’s Net Unrealized Profit-Loss (NUPL) metric reveals that XRP has transitioned from the “optimism–anxiety” phase into the “belief–denial” zone. Historically, this phase suggests that investors are holding onto profits with confidence, and the market is not exhibiting panic selling or capitulation.

Unlike previous cycles where XRP entered the “euphoria–greed” phase before sharp corrections, the current NUPL readings imply a more sustainable rally. This data supports the technical outlook and reinforces the narrative that XRP is establishing a robust foundation for further price appreciation.

Market Outlook and Strategic Considerations for Investors

Given the convergence of technical signals, whale accumulation, and positive onchain sentiment, XRP appears positioned for a potential breakout. Investors should monitor key support levels, particularly around $1.80, to assess the validity of the bullish setup. Maintaining awareness of broader market trends, including Bitcoin’s price stability, remains critical as it influences altcoin performance.

Traders are encouraged to consider these factors when formulating strategies, balancing the potential for significant gains with prudent risk management. Staying informed through reliable sources and onchain analytics will be essential in navigating the evolving landscape.

Conclusion

XRP’s recent price action, underpinned by a rare technical pattern and record whale accumulation, signals growing institutional confidence and a potential rally toward $4.47. Onchain sentiment metrics corroborate this outlook, indicating a healthy market environment without signs of panic. While key support levels must hold to sustain momentum, the current indicators suggest XRP is well-positioned for further gains in the coming months.