Key takeaways:
- XRP pushed above the crucial $1.13 resistance, shifting attention to a higher target at roughly $1.2269 ($1.22).
- Analyst Dark Defender points to an Elliott Wave and Fibonacci-extension setup that signals completion of a 5-wave structure.
- A golden cross has formed, reinforcing medium-term momentum, though it’s not a guarantee of higher prices.
- On-chain data shows whale selling has plunged to its lowest level since 2025 while large-wallet accumulation is accelerating.
- XRPL daily payments recently topped 500,000 transactions amid rising development activity, including projects exploring AI integrations.
XRP clears a key hurdle, eyes $1.22
XRP recently cleared the $1.13 level—a resistance many traders had been watching—and that breakout has focused attention on the next upside target. Market analyst Dark Defender, using Elliott Wave counts and Fibonacci extensions, has identified roughly $1.2269 (about $1.22) as the next technical objective. In a July 21, 2026 tweet, Dark Defender said a break above $1.13 would allow the expected 5-wave structure (set on June 30) to complete, calling $1.13 “the KEY” and $1.22 “in sight” (NFA).
Technical picture: breakout + golden cross
The technical backdrop has been bolstered by a breakout from the $1.13 zone and the appearance of a golden cross—when a shorter-term moving average crosses above a longer-term one. Traders commonly view this pattern as a sign of improving medium-term momentum. While a golden cross strengthens the bullish case when it aligns with a breakout, it’s not proof that prices will keep rising. Maintaining support above the breakout level remains critical; a failure to hold $1.13 could trigger another test of lower supports.
Whale dynamics shift from selling to accumulation
On-chain metrics show a marked change in large-holder behavior. Exchange inflows from big wallets—previously measured in the hundreds of millions of XRP earlier this year—have declined sharply, and whale selling pressure has fallen to its lowest level since 2025. Concurrently, data points to accelerating accumulation by large wallets, suggesting some major holders are adding to positions rather than offloading them. While this reduces immediate selling pressure, it doesn’t guarantee broader market demand will follow; any sustained rally will still rely on continued buying from both institutional and retail participants.
XRPL activity climbs, development picks up
Network fundamentals are improving too: daily payment activity on the XRP Ledger recently topped 500,000 transactions, one of the strongest usage levels in recent months. Payment volume is a core gauge of real-world activity on a ledger, and the uptick coincides with expanding development across the XRPL ecosystem—including early-stage projects that combine AI and blockchain infrastructure. These developments signal growing utility beyond speculative trading, though many initiatives are still in progress.
Outlook
XRP’s near-term trajectory hinges on whether it can hold above the $1.13 breakout and build momentum toward the $1.22 target flagged by Dark Defender. The confluence of a breakout, a golden cross, falling whale selling and rising XRPL activity forms a constructive backdrop, but traders should remain cautious: technical signals can fail, and broader market forces ultimately determine whether gains stick.
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