Karla Barker 
The number of large XRP holders has hit a new all-time high, signaling strong confidence even as the token consolidates below key resistance.
Data from market intelligence firm Santiment shows wallets holding at least 10,000 XRP now total roughly 332,230 — the highest ever recorded. This extends an accumulation trend that has been building since June 2024.
Whale accumulation during volatility
Santiment noted that the steady growth in mid-to-large stakeholders is a positive long-term sign. These large holders have kept accumulating even through periods of uncertainty and price swings, which suggests they see further upside potential.
This whale activity aligns with rising activity on the XRP Ledger (XRPL). Monthly transactions on XRPL jumped to 71 million in April, up from 43 million a year ago — a 65% increase according to treasury firm Evernorth. That growth appears driven by institutional use tied to Bitstamp, RLUSD, Braza Bank, and various DeFi protocols.
Technical setup points higher
XRP has recovered from April lows near $1.26, climbing roughly 19% to a three-week high around $1.50 on Sunday. The token is currently trying to break out from an ascending triangle pattern that has contained its price since early February.
An ascending triangle is typically a bullish formation, with price consolidating between flat resistance and a rising support trendline. A breakout above resistance — especially with increased volume — often leads to further gains.
The immediate hurdle sits at $1.50, where the 100-day EMA and the triangle’s resistance line converge. The price has been rejected from this level four times since mid-February. A further barrier lies between $1.67 and $1.70, near the 200-day EMA.
Price targets and analyst views
If XRP can clear these levels, the measured target of the triangle points to around $1.98 — roughly 36% above the current price. Beyond that, some analysts see the potential for a move toward $2.40 or higher.
Analyst CW8900 noted that XRP whale long positions remain dominant compared to retail positions, suggesting large traders maintain a bullish outlook. Another analyst, ChartNerd, observed that the daily 20 EMA near $1.42 has been guiding price higher since early May.
Fellow analyst Neel said the pair needs a clear break above $1.60 for any significant short-term rally. However, a rise above $2.00 could generate fresh momentum and potentially trigger a trend change.
The $1.50 to $1.60 zone remains critical. Bulls must flip this area to confirm the breakout and open the path toward $2.00 and beyond. For now, the combination of whale accumulation, rising network activity, and a bullish technical pattern suggests the setup remains favorable for XRP — but resistance at these levels will test whether the rally has legs.
This article is for informational purposes only and does not constitute investment advice. All investments carry risk; readers should conduct their own research.