The number of large XRP holders has reached a new record, suggesting that big investors remain confident despite recent market swings. Data from Santiment shows wallets holding at least 10,000 XRP now total around 332,230, the highest ever. This trend has been growing since June 2024, according to the firm.
These whales seem to be using the recent consolidation phase to accumulate more tokens. Santiment explained that the steady increase in mid-to-large stakeholders is an important long-term signal, indicating that larger holders have kept buying even through volatile periods and uncertainty.
This aligns with rising activity on the XRP Ledger itself. Monthly transactions jumped to 71 million in April, up 65% from 43 million a year ago. Evernorth, an XRP treasury firm, attributes this growth to institutional use tied to Bitstamp, RLUSD, Braza Bank, and DeFi protocols as the ledger expands its compliance-focused infrastructure.
Technical Setup Points Higher
On the price chart, XRP is trying to break out of an ascending triangle pattern that has capped its movement since early February. An ascending triangle is a bullish continuation pattern; it forms when the price consolidates between a horizontal resistance line and a rising support trendline. A breakout above resistance with rising volume often precedes a strong upward move.
The key level to watch is $1.50, where the 100-day exponential moving average converges with the triangle’s resistance line. Bulls need to flip this area to confirm the breakout. However, the price has been rejected from this supply zone four times since mid-February, so it remains a tough barrier.
Next Targets and Obstacles
If XRP does break above $1.50, the next major resistance lies between $1.67 and $1.70, where the 200-day EMA sits. Beyond that, the measured target of the triangle points to $1.98, roughly 36% higher than the current price.
Analyst ChartNerd noted that XRP has been defending its daily 20 EMA since early May, around $1.42, which has been guiding the price higher. Fellow analyst Neel said that a clear break above $1.60 is needed for any meaningful short-term rally. Rising above $2.00 would generate fresh momentum.
The $1.50 to $1.60 range is critical in the short term. A break above could signal a potential trend change and propel XRP toward $2.40. However, the repeated rejections at resistance suggest that a confirmed breakout is not yet guaranteed. Market participants should keep a close watch on volume and price action at these key levels.
