XRP has bounced off its April low of $1.26 and climbed as much as 19% to a recent three-week high near $1.50. Growing whale accumulation, expanding on‑ledger activity and a bullish technical setup suggest the XRP/USD pair could be poised for a stronger rally if key resistance is cleared.
Key takeaways:
– Wallets holding large XRP positions hit a record high of about 332,230, signaling accumulation.
– XRP Ledger monthly transactions reached a new peak of 71 million in April, up roughly 65% year‑over‑year from 43 million.
– Price needs to break and hold above $1.50 (and ideally $1.60) to aim for a move toward $2 and beyond.
Whale accumulation and network activity
Data from market intelligence providers show a steady rise in the number of mid‑to‑large XRP holders. Santiment’s metric tracking wallets meeting a large‑holding threshold recently recorded an all‑time high, pointing to sustained accumulation by bigger addresses since mid‑2024. Analysts interpret rising counts of these wallets as an indicator that larger holders are positioning for longer‑term upside rather than trading short‑term volatility.
On the network side, XRPL usage has expanded substantially. Evernorth reports that monthly XRPL transactions hit an all‑time high of about 71 million in April, a roughly 65% increase from the prior year. That increase has been attributed in part to growing institutional and compliance‑focused activity tied to exchanges, stablecoin rails, banks and DeFi integrations on XRPL.
Directional bias from derivatives and on‑chain flows
Derivative‑market observers note that whale long exposure remains dominant compared with retail positioning, which supports the view that larger market participants are maintaining a bullish stance. Combined on‑chain accumulation and dominant long exposure among big holders can reduce sell pressure and increase the chance of a sustained breakout if technical hurdles are cleared.
Technical picture: $1.50 is the pivot
Technically, XRP has been trading inside an ascending triangle since early February — a pattern that often resolves upward when the horizontal resistance is taken out with volume. The $1.50 area is a key pivot: it coincides with the triangle’s flat top and the 100‑day exponential moving average (EMA). Price has been rejected from this supply zone multiple times since mid‑February, so a convincing break and flip of $1.50 into support would be required to validate a bullish breakout.
Above $1.50, the next significant resistance band sits around $1.67–$1.70, roughly where the 200‑day EMA aligns. If bulls can clear that zone, the measured target from the triangle puts XRP close to about $1.98, roughly 35–36% above recent levels. Several market technicians note that reclaiming and defending the daily 20 EMA (which guided the price higher after early‑May support) is a positive sign, but emphasize that $1.50–$1.60 is an imminent short‑term hurdle. A clear break above $1.60 would likely open the door to a more meaningful rally, and a push above $2.00 could generate fresh momentum.
What to watch next
– Whether $1.50 holds as support after a breakout and whether volume confirms the move.
– Institutional and on‑chain flows that could sustain buying pressure, especially if more large wallets continue accumulating.
– Reactions at the $1.67–$1.70 zone around the 200‑day EMA, which is likely to attract supply.
Conclusion
Rising whale counts and record XRPL activity are constructive signals for XRP’s medium‑term outlook, but the market still needs a decisive technical break of the $1.50–$1.60 area to pursue targets near $2.00 or higher. Traders should watch volume and whether $1.50 flips to support; without that confirmation, upside may be limited by repeating rejections.
Disclaimer: This article is for informational purposes only and not investment advice. All trading and investment involve risk; readers should conduct independent research before making decisions.