XRP Pushes Toward $3.23 Resistance After Half-Billion Accumulation

XRP formed a clear ascending channel with higher lows from $3.16 to $3.22, as $3.23 resistance held firm amid over $500 million in aggressive accumulation.

XRP Pushes Toward $3.23 Resistance After Half-Billion Accumulation. Source: Shutterstock
Source: Shutterstock

XRP Needs to Hold $3.20 Firmly

After hitting all-time high of $3.65 mid this month, XRP is consolidating tightly, signaling a potential breakout as traders await its next move.

The 3rd-largest cryptocurrency by market cap recently formed higher lows after soaring from $3.16 to $3.22 before finding resistance at $3.23.

Consequently, XRP has pulled back to $3.15, seeking solid footing for its next move. Reclaiming $3.20 and surging past $3.23 is needed to fuel a breakout past the psychological $3.50 level.

Investors’ Accumulation Goes Through the Roof

XRP has witnessed a dramatic surge in inflows over the past three days, with investors stacking up 163 million tokens worth approximately $519 million, according to Glassnode data.

Source: Glassnode
Source: Glassnode

This accumulation is widely interpreted as institutional and whale activity gathering momentum, shifting holdings off exchanges and signaling a shift toward long‑term positioning rather than short‑term speculation.

Concurrently, investors have moved substantial XRP balances from exchange wallets to private custody. Glassnode data highlights a significant drop in exchange reserves, typically a bullish sign as reduced exchange liquidity often precedes price support, as holders increasingly HODL instead of sell.

Meanwhile, key on‑chain metrics emphasize fundamental strength. XRP’s Network Value to Transactions (NVT) ratio has slipped to its lowest point in four months, suggesting the asset may be undervalued relative to actual on‑chain usage. 

Source: Glassnode
Source: Glassnode

When market cap outpaces transaction volume, NVT typically rises, but the inverse drop signals that network activity is keeping pace, lending credence to sustained value potential.

In the perpetual space, open interest in XRP futures recently peaked to $8.8 billion, marking one of the highest levels in recent history with this surge signalling new money entering the market. 

Conclusion

This accumulation of 163 million XRP tokens worth $519 million over three days represents growing investor conviction amid reduced liquidity. 

With exchange balances declining, lower NVT, and bullish chart patterns, the setup aligns for a potential XRP breakout if the key resistance zone of $3.23 is breached and macro conditions remain favorable.