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XRP has seen a sharp wave of fresh capital inflows, adding more than $4 billion to its market capitalization in the past 24 hours.
In this case, the asset’s valuation rose from $112.40 billion to $126.74 billion at press time, marking one of its strongest single-day capital surges in recent weeks and signaling growing trader confidence.
The rapid jump in market cap coincides with a bullish technical structure, suggesting a sustained rebound in the coming sessions.
In this line, insights shared by cryptocurrency trading analyst Ali Martinez in an X post on December 8 indicate that XRP is currently trading inside a large symmetrical triangle pattern, with price action compressing toward the apex.
Notably, the pattern shows a descending upper trendline and a rising lower trendline, reflecting reduced volatility as XRP nears a breakout zone.
At the same time, recent candles continue to move between these converging levels while forming higher lows, indicating strengthening buyer momentum and setting the stage for a potential decisive move.
Based on the structure, Martinez noted that XRP is positioned for an upside breakout, with technical projections pointing to a potential 16% rally if the price pierces the triangle’s upper boundary.
XRP whales on a dumping spree
Interestingly, despite XRP showing strength, whales are not confident in the asset’s long-term structure. On-chain data indicates that whales have offloaded roughly 510 million tokens over the past week. The outflows affected wallets holding between 1 million and 10 million XRP.
This sustained distribution suggests major holders are reducing exposure, a trend that often amplifies market weakness.
Indeed, XRP needs stronger bullish input to reclaim the $2.15 resistance. If the technical structure plays out, the asset is likely to target $2.5 next.
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