XRP’s recent 70% rally may have had an early signal on-chain. Santiment found 85 new wallets containing at least 1 million tokens, which appeared just two days before the August 17-21 surge.
This is important because these larger wallets can absorb supply and strengthen bids while moving liquidity faster than retail traders. Changes in their numbers often appeared before the sharpest movements in XRP.
Millionaire wallets were already on the move
There is also more happening around the XRP Ledger. Ripple has backed an RLUSD credit fund focused on fintech and payment lending on XRPL. ZILO and Licuido’s investments introduced tokenization as well as transfer agency and collateral mobility rails into Ripple’s stack.
As for the rest of the year, Santiment considered the configuration must be constructive. The number of whale wallets remains high, while RLUSD adds settlement utility and institutional tokenization gives XRP a story beyond retail hype.
Separately, AI is also making progress in Ripple’s treasury operations. Last week, the company announced the expansion of GSmart to handle a wider range of tasks for enterprise finance teams. The new features cover forecasting, liquidity, risk, reconciliation and reporting, and are already used by Ripple’s enterprise customers.
Despite previous gains, XRP was hit the hardest among major cryptocurrencies following the Senate’s failure to advance the CLARITY Act. This is a major blow to an industry that has spent years pushing for a comprehensive U.S. regulatory framework. Over the past day, the token has lost more than 8%.
The broader crypto market was also awash in red on Tuesday afternoon.
Bullish setup takes a hit
Diana, crypto analyst said XRP could face further decline after the token lost the $1.34 support level and quickly fell to $1.26. The move weakened its earlier bullish pattern, which pointed towards the $1.70 to $1.78 range. The bulls must now defend the $1.24-$1.26 zone.
If this level fails, the analyst said $1.14 to $1.10 could be in focus, followed by the $1.00 mark if XRP drops below $1.1. Diana also reported that its one-hour RSI had fallen to near 21, putting the token in deeply oversold territory. This could trigger a short-term rebound.
Institutionally, US-based spot XRP ETFs continued to attract capital. So far in August, they have raised more than $43 million in revenue. If the trend continues, these funds could extend their entry streak to 10 consecutive weeks.
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