XRP is making headlines once again as July turned out to be one of its most eventful months this year. From surging new accounts on XRPL to record-breaking TVL (Total Value Locked), XRP’s momentum is catching the eye of both traders and long-term investors.
Could this be the start of another major breakout?
XRP Network Growth Hits New Milestones
One of the strongest signals of XRP’s growing traction is the surge in new accounts. According to XRPScan data, over 10,000 new accounts were created on July 18 alone, the highest since February.
While it hasn’t topped the all-time high of 30,000 set in December 2024, this steady rise shows that new investors are flowing into the network.
The number of active wallet addresses also saw a huge jump, surpassing 50,500—a 100% increase compared to the previous month. This spike suggests not just interest but real usage of XRP’s blockchain, something many altcoins struggle to achieve.
Ripple Sees Massive Whale Transfer
Ripple has caught everyone’s attention after a huge XRP transfer worth over $738 million was spotted. This sudden move comes as XRP’s price edges closer to its 2018 all-time high, leaving traders and fans wondering what’s next.
According to data from Whale Alert, a massive 210,669,117 XRP tokens were moved in a single transaction. At first, the sender’s identity was a mystery, which sparked intense discussions within the XRP community.
TVL Reaches New Heights
Another big milestone comes from XRP’s total value locked (TVL). This number just hit an all-time high above $92 million, mostly driven by activity on XRP’s decentralized exchange (DEX). For nearly a year, TVL had stayed flat, but now new energy is flowing in.
Part of this push came from Ripple’s official launch of the XRPL EVM Sidechain Mainnet in early July. This upgrade made it easier for people to lock their XRP into liquidity pools and use it in new ways.
XRP Dominance on the Rise
XRP’s dominance index (XRP.D) recently crossed the 5.4% mark, its highest level of 2025 so far. Some analysts believe it could climb toward 15% or even revisit its 2017 peak of 30% if the current trend continues.
With a market cap above $211 billion, XRP has even overtaken major corporations like Shell, Siemens, and Blackstone.
As of now, XRP price is trading around $3.54, reflecting a jump of 1% seen in the last 24 hours with a market cap hitting $210 billion.
Several corporations made massive commitments to their Bitcoin treasuries this week. K Wave Media plans to acquire 88 BTC, spending hundreds of millions, while DDC and Animoca are investing $100 million.
Ethereum is also seeing renewed interest, as several corporate holders spent millions on fresh acquisitions last night. Nonetheless, Bitcoin is the lightning rod for institutional capital right now.
Bitcoin’s All-Time High Triggered Another Corporate Race
K Wave Media, a South Korean firm, announced plans to make major acquisitions, aiming to hold 88 bitcoins:
“We believe that this financing structure positions us to execute one of the most ambitious corporate Bitcoin accumulation strategies in the world. Our objective is clear: to scale our holdings toward 10,000 bitcoins as soon as possible while maintaining strong investor alignment and full transparency,” claimed CEO Ted Kim.
Considering Bitcoin’s price reached an all-time high yesterday, K Wave is trying to build a huge treasury. The firm claimed that it’s partnering with Anson Funds, an investment company that will provide it with $500 million in financing.
At least 80% of these proceeds will go to BTC acquisitions, but K Wave may invest as much as $1 billion.
Another firm doubling down on the Bitcoin treasury strategy is DDC Enterprise, which has already been buying BTC. Today, it announced a partnership with Animoca Brands to invest $100 million into DDC’s stockpile.
Animoca, which has been pursuing diverse revenue strategies, will help manage DDC’s investments, gaining market experience and some of the yield.
Furthermore, although Bitcoin is definitely the preferred asset, several companies are building treasuries of different altcoins. Solana, for example, has its own MicroStrategy-type whale, and data from Lookonchain revealed seven large ETH transactions last night. Several came from corporate buyers, and the total quantity of Ethereum reached $358 million:
Ethereum broke back above $2,800 today!
In the past 24 hours, 7 whales/institutions have bought 127,971 $ETH($358M).
Of course, a few of these transactions were anonymous whales, which may not have anything to do with corporate holders. One was even part of a chain of money laundering from yesterday’s GMX hack. Still, this trend shows that corporate treasury acquisitions are not necessarily related to Bitcoin.
As July comes to an end, several significant developments in the Bitcoin (BTC) market have emerged. Notably, profit-taking pressure has resurfaced in the final week of the month, raising concerns about a potential turning point in August.
Based on analysis from market experts and on-chain data, four main sources of selling pressure could soon shape Bitcoin’s trajectory. Let’s explore each factor in detail.
1. Profit-Taking from Reawakened “Dormant Whale” Wallets
Bitcoin price and inflow/outflow activity from the Galaxy Digital wallet. Source: CryptoQuant
CryptoQuant data shows that large outflows from Galaxy Digital wallets often coincide with Bitcoin price corrections. On July 29, LookonChain continued to detect more outflows, sparking fears of another sell-off.
“Is Galaxy Digital helping clients sell BTC again? In the past 12 hours, Galaxy Digital has transferred out another 3,782 BTC ($447 million), most of which went to exchanges,” LookonChain reported.
Moreover, BeInCrypto reported that two additional dormant wallets—inactive for 6 to 14 years—have become active. SpotOnChain recently reported three dormant whale wallets, possibly tied to a single entity, that moved 10,606 BTC ($1.26 billion) after 3–5 years of inactivity.
An increasing number of awakened whale wallets appear to add selling pressure heading into August.
2. Signs of Selling Pressure from Long-Term Holders
The second source of selling pressure is from Long-Term Holders (LTHs), who are often considered the backbone of the Bitcoin market.
According to a CryptoQuant report, LTHs began withdrawing funds as BTC hovered around the $120,000 mark at the end of July. This behavior may reflect a cautious mindset, where many investors prefer to lock in profits rather than continue holding through potential volatility.
Bitcoin Long-Term Holder Net Position Change. Source: CryptoQuant
“Long-term holders (LTHs) have started to turn net negative right at the $120K resistance — a historically important psychological level. This shift suggests that some investors who’ve held through previous cycles might be starting to realize profits,” analyst Burakkesmeci noted.
In Q1 2025, negative net positions from long-term holders helped drag BTC below $75,000. If this group continues to sell, it could create significant selling pressure, increasing the risk of a strong correction in August.
3. Miner Outflows Are Increasing
The third factor is rising miner outflows — a key indicator of selling pressure from Bitcoin miners.
CryptoQuant data shows that throughout July, BTC outflows from miner wallets started climbing again after a period of decline. This shift marks a possible trend reversal.
Miners often sell when they need liquidity to cover operational costs or when they want to lock in profits after a price rally. If this trend continues, it could amplify selling pressure, especially when combined with the activity from whales and long-term holders.
“The mean amount of coins per transaction sent from affiliated miners’ wallets. If miners send some proportion of their reserves at the same time, it could trigger a price drop,” CryptoQuant explained.
4. Selling Pressure from the US Investors
The Coinbase Premium indicator reflects the price gap between Coinbase and Binance. A negative premium means Bitcoin trades at a lower price on Coinbase, indicating weaker demand or stronger selling pressure in the US market.
This indicator essentially represents the behavior of US investors. Although it remained mostly positive, it turned negative at the end of July.
“Bitcoin Coinbase Premium Gap turned negative again. What does it mean? The demand in the US market is weakening. Caution is necessary,” analyst IT Tech commented.
Historically, a negative premium hasn’t always led to a trend reversal. However, it often signals a slowdown in upward momentum. If selling pressure continues to build, a negative outcome could unfold.
A Reversal Signal from the MVRV Ratio in August
Some analysts are adopting a more cautious stance for August, especially after Bitcoin recorded four straight months of gains.
According to Coinglass statistics, Q3 is historically the weakest quarter of the year. August, in particular, is often the worst-performing month within Q3.
CryptoQuant analyst Yonsei pointed out that the MVRV (Market Value to Realized Value) ratio is approaching a cycle-top threshold. This signal may appear by late August.
During the 2021 cycle, the MVRV ratio formed a double top that accurately predicted the market peak. If history repeats, August could mark Bitcoin’s local top before entering a correction or consolidation phase.
“In short, we’re entering a zone where optimism and caution must coexist. Let on-chain timing guide your strategy — now is the time to tighten risk management and stay nimble,” Yonsei concluded.
“However, the strong liquidity profile, matched with the market’s ability to handle large orders and growing demand from treasury companies, indicates the presence of sophisticated traders. These traders are more price agnostic, which should bode well for BTC’s price action heading into what can be a choppy month,” Kaiko stated.
Although whales, LTHs, and miners may trigger volatility, the current market structure could prevent a severe collapse.
