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<p>The XRP Price has broken out, and this time, it’s more than just a chart-level breakout. On-chain signals, large wallet movements, and a major institutional partnership are all lining up.</p>
<p>The price jumped over 5% in 24 hours and over 16% this past week, decisively breaching the $2.29 resistance and breaking out of a months-long falling wedge.</p>
<p>This breakout has quickly become the most watched XRP news of the week across both crypto Twitter and trading Telegrams.</p>
<h2 class="wp-block-heading" id="h-ripple-taps-bny-mellon-in-major-xrp-news-development"><strong>Ripple Taps BNY Mellon in Major XRP News Development</strong></h2>
<p>Earlier this week, Ripple announced that BNY Mellon will be <a href="https://www.bny.com/corporate/global/en/about-us/newsroom/press-release/ripple-selects-bny-to-custody-ripple-usd-reserves.html" target="_blank" rel="noopener noreferrer nofollow">the official custodian</a> for its new stablecoin, RLUSD.</p>
<p>This makes BNY Mellon the key reserve manager behind Ripple’s biggest real-world utility push so far.</p>
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   Ripple and BNY partnership-Source: Ripple
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<p>Why does it matter? Because BNY Mellon is one of the most established financial institutions in the U.S., and this partnership signals growing trust in Ripple’s infrastructure.</p>
<p>For investors, it’s a strong green light from traditional finance, and it arrives just as XRP is breaking a technical resistance band.</p>
<p>It can’t be just a coincidence. It’s no surprise this headline is now dominating XRP news cycles.</p>
<h2 class="wp-block-heading" id="h-whale-wallet-activity-is-heating-up"><strong>Whale Wallet Activity Is Heating Up</strong></h2>
<p>A 200 million XRP transfer, worth over $477 million, was spotted by Whale Alert just hours after the price broke out. The funds moved from a Ripple-controlled wallet to an unknown address.</p>
<p>While the destination isn’t confirmed, the nature of the move suggests wallet repositioning, possibly internal or toward a custodial setup.</p>
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   Whale repositioning- Source: Whale_alert
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<p>Meanwhile, <a href="https://www.thecoinrepublic.com/2025/07/08/ripple-whales-make-big-moves-amid-xrp-prices-highest-quarterly-close-what-to-expect/" rel="noopener noreferrer nofollow">whale transactions</a> above $1 million in size spiked heavily on July 9–10. These spikes usually precede market moves, especially when they occur near breakout levels.</p>
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   Whale transactions have surged since mid-June- Source: Santiment
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<p>Whale wallets are addresses holding very large amounts of XRP, typically over $1 million worth.</p>
<p>When these wallets begin moving large amounts, especially off exchanges or into new wallets, it often signals accumulation or restructuring before a major move.</p>
<p>Such patterns have historically preceded major waves in XRP news and sentiment.</p>
<h2 class="wp-block-heading" id="h-xrp-price-breaks-out-is-2-83-the-next-target"><strong>XRP Price Breaks Out! Is $2.83 the Next Target?</strong></h2>
<p>Technically, XRP Price broke out of a falling wedge formation, a bullish reversal pattern. After successfully pushing past the $2.29 resistance, it is now holding above $2.55.</p>
<p>The wedge breakout is visible on the daily chart, which also shows resistance levels drawn using the Fibonacci indicator, more specifically, the trend-based extension indicator.</p>
<p>Beyond the current price level, the path opens toward $2.83, $3.13, and even $3.60 in the medium term.</p>
<p>These levels are derived using a trend-based Fibonacci setup from the $1.90 swing low to the $2.72 high.</p>
<p>Do note that the <a href="https://www.thecoinrepublic.com/2025/01/25/ripple-predicts-unprecedented-crypto-growth-in-2025/" rel="noopener noreferrer nofollow">all-time high XRP price</a> sits at $3.84. A break above $3.13, which remains a strong resistance, can make the ATH hopes come back.</p>
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   XRP price action- Source: TradingView
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<p>However, if the XRP Price drops below $2.15, the structure weakens. That would mean the breakout has failed, and XRP may re-enter its earlier range between $1.90 and $2.15.</p>
<p>One technical caution does exist amid all the positive XRP news bits. The On-Balance Volume (OBV), which tracks cumulative trading volume to confirm price trends, is diverging slightly from price.</p>
<p>While XRP Price is making higher highs, the OBV is forming lower highs.</p>
<p>This kind of divergence can sometimes suggest that the momentum behind the price rally is slowing, even if the price continues climbing in the short term.</p>
<p>OBV, or On-Balance Volume, helps measure how strong a price move is by looking at whether volume supports the move.</p>
<p>If the price rises but OBV doesn’t follow, it could mean traders are less confident. And that means XRP can retest key levels in the short term.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2025/07/11/xrp-news-price-surges-as-ripple-taps-bny-mellon-for-stablecoin-custody/" rel="noopener noreferrer nofollow">XRP News: Price Surges As Ripple Taps BNY Mellon for Stablecoin Custody</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

XRP News: Price Surges As Ripple Taps BNY Mellon for Stablecoin Custody

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