XRP is gaining ground as Ripple whales increase their holdings. Given that the lengthy legal ordeal is nearing an end, enthusiasm is building that the cryptocurrency may surpass its June peak and aim for $3.5.

XRP Price Increasing: Can It Break $2.75?

Recent data shows XRP as a leading player, outperforming major competitors like Solana and Dogecoin. With a small dip of 2% last week, it is nonetheless recovering.

A recent surge saw XRP climb from around $2.1 to $2.4, establishing a new resistance point. A move past this threshold could set XRP on a path to hit $3.5.

In the past week, trading volume has surged by 276%, exceeding $9.6 billion, highlighting increased trader activity as prices rise.

Whales Are Strategizing as Legal Issues Wind Down

Network activity for XRP is booming, where daily active addresses surged to over 295,000, significantly up from a previous average of about 35,000.

📊 The XRP ledger shows notable growth from both usage and stakeholder activity. 📈 The number of active addresses averaged over 295K daily compared to approximately 35-40K previously.

This trend coincides with a rise in the number of large wallets holding more than a million XRP, reaching a record high of over 2,700 unique addresses. Legal motions from Ripple are aimed at reducing penalties and removing restrictions on XRP sales, which could potentially fuel further growth.

The resolution of this multi-year lawsuit could provide much-needed clarity for XRP’s regulatory status, thereby enhancing institutional involvement in the cryptocurrency market.