The post Bitcoin Price Reclaims $78K: Can BTC Extend Its Recovery Toward $82K? appeared first on Coinpedia Fintech News Bitcoin price has staged a sharp turnaround, reclaiming the $78,000 level after an early sell-off pushed it below $76,000. The recovery comes as investors reassess the impact of the US midterm election results, which initially triggered concerns about the future of crypto-friendly legislation. However, renewed buying has helped Bitcoin erase its losses and return to …

XRP, the native cryptocurrency of the XRP Ledger, is up 2.15% since yesterday, trading at $1.27. The uptick aligns with broader crypto market stability after the Binance exploit and Bitcoin holding above $77,000. However, XRP’s bullish momentum could be attributed to growing large-wallet accumulation, as accounts with 1M tokens reached 2,147, its highest level in 2026. 1M+ XRP Addresses Reach 2026 Peak Last week, the cryptocurrency market witnessed a panic sell-off when the largest cryptocurrency exchange, Binance, faced a massive security breach , where attackers stole $6.3B worth of digital assets. The incident pushed Bitcoin to $76,000 and top altcoins like Ethereum to $2,170 and XRP to $1.2. However, the Ripple cryptocurrency managed to rebound over 6% from the $1.2 floor to its current trade at $1.27. The uptrend gained momentum from increasing whale conviction, as XRP wallets with at least 1M tokens have surged to 2,147, its highest number in 2026 according to Santiment data . Interestingly, the cohort witnessed 28 new wallet entries in the last ten days, of which 18 entered the +1M+ ’XRP Holders Club’ in the past three days. The increasing interest of high-network investors when this altcoin extended its correction trend and experienced notable impact from the Binance exploit indicates that they are building their position in the market rather than fleeing. Historically, active accumulation among these key stakeholders is considered encouraging and bullish for an asset, as large holders tend to have longer time horizons than short-term traders. Santiment analyst highlights a constructive bullish setup for XRP if price holds above the $1.20 to $1.25 floor and the 1M+ wallet count stays above the 2,140 mark. The buying momentum will accelerate if the coin price recovers to $1.3 and $1.4 and large-wallet holders continue to rise in number. XRP Millionaire Wallets| Santiment On the contrary note, XRP’s open interest (OI) , the total outstanding volume of futures and options contracts, has dropped from $3.78B in late September to $2.88B by press time. This 28% contraction indicates that derivative market participants were forced to liquidate or reduce their leverage bets to protect against a falling XRP price. A prolonged decline or sideways trend in OI will pull out speculative support for XRP price. XRP Open Interest| Coinglass However, this classic example of retail fear and whale conviction has often bolstered the underlying recovery momentum in an asset. XRP Price Eyes Key Breakout From Current Correction Trend Amid the October 2026 correction, the XRP price consolidated within two covering trendlines, indicating the formation of a falling wedge pattern. While the setup drives a steady correction with dynamic resistance and support, the covering nature of those trendlines indicates weakening bearish momentum. As shown in the chart, XRP is testing the upper boundary of its wedge pattern, signaling a potential bullish breakout. If the buyers flip this resistance into potential support, the bullish momentum will accelerate and drive the altcoin another 6% higher to challenge the 200-day exponential moving average. In line with Santiment’s outlook, breaking back above the key EMA hovering near $1.36 could spark renewed bullish momentum for XRP. XRP/USDT -1d Chart On the contrary note, market participants must be cautious of the $1.2 support, as a breakdown below this floor could invalidate the bullish thesis and bolster an extended correction in XRP.