XRP Price Prediction: The number of addresses holding 10,000 XRP hits a new high, aiming for $6.20?

This week, the XRP market has shown signs of recovery, with the price rising to around $2.44, an increase of 3.36% within 24 hours. Technical analysts believe that XRP has completed the ABC correction pattern, which may signal the end of the downtrend. At the same time, the number of wallets holding at least 10,000 XRP has reached approximately 317,500, setting a new historical high, indicating that investors continue to accumulate at low price levels. CoinShares has submitted an XRP ETF application, and Ripple's acquisition of GTreasury for $1 billion provides strong institutional support and upside potential for XRP, with Fibonacci extension targets pointing to $6.20.

XRP Technical Analysis: Correction Pattern Ends, Accumulating Rebound Energy

After nearly a month of decline (down about 18.4% from recent highs), the XRP price has stabilized near the midpoint of its recent trading range.

· ABC correction completed: Analysts point out that the multi-week chart structure of XRP resembles the “ABC correction pattern,” where the completion of the “C” leg usually marks the end of a downtrend. Analyst Mikybull stated that XRP has completed the “C” leg and has regained its footing in the $2.10 area.

· Building momentum: This price compression is referred to as “storing energy” among traders, and once a breakout is confirmed, this energy often releases quickly.

· Key breakout point: Traders see $3.25 as the first important pivot point. A daily close above this level will signify a clean higher high, which will establish an uptrend according to the basic trend-following rules.

Fibonacci extension target

· Target $6.20: Analyst Mikybull pointed out that a Fibonacci extension target is located near $6.20. To achieve this target, XRP must break through $3.25 and stay above it.

· Structure-driven: The path to reaching $6.20 will depend on the structure defined by higher highs, higher lows, and strong closing prices, rather than speculation.

On-chain Data: Number of Large Holders Hits All-time High

Despite the recent price weakness, on-chain data shows that the holder base of XRP is still growing.

· Accumulation signs: The number of wallets holding at least 10,000 XRP tokens has reached a historical high of about 317,500.

(Source: Santiment)

· Continuous Growth: Data from Santiment shows that in just 30 days, the number of wallets holding 10,000 or more tokens has increased by about 1.8%. This upward trend in the metric is expected to continue through 2025, indicating that many investors are taking advantage of lower prices to strengthen their positions rather than selling during the downturn.

· Price support: As the base of loyal holders grows, this could provide support for the value of XRP in the coming weeks. Some analysts suggest that if the bullish on-chain sentiment can translate into sustained buying pressure, XRP may reach at least $2.8 before the weekend.

Institutional Development: ETF Application and 1 Billion Dollar Acquisition

Institutional progress provides strong long-term support for XRP.

· ETF application: CoinShares has submitted a spot XRP ETF application to Nasdaq, although the U.S. Securities and Exchange Commission (SEC) has postponed its decision on the XRP ETF application until the end of 2025.

· Hedge against bearish pressure: If a large amount of institutional capital enters the market through approved ETFs, it will help offset potential bearish pressure.

· Ripple's Huge Acquisition: Ripple Labs acquired GTreasury for $1 billion, marking Ripple's third-largest deal in 2025. GTreasury focuses on treasury management software, serving over 1,000 enterprise clients across 160 countries/regions. This transaction immediately positions Ripple in the multi-trillion dollar enterprise treasury market.

Conclusion

XRP has completed a technical correction pattern and has gained strong support in institutional development and on-chain accumulation. The number of addresses holding over 10,000 XRP has reached a historical high, and the strategic acquisition of $1 billion by Ripple provides a solid fundamental for XRP. The key for the current market is whether it can break through the resistance level of $3.25. If successful, the structural target for XRP will point to $6.20, which is worth investors' close attention.

Disclaimer: This article is for news information only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make cautious decisions.