Classic Bullish XRP Pattern Emerges as Large Wallets Keep Accumulating

XRP briefly climbed above $1.16 and is being supported by accumulation from large holders rather than retail demand, according to the latest findings by Santiment. The analytics firm reported that wallets containing between 100,000 and 100 million XRP expanded their holdings by 2.8% over the past five weeks. In contrast, wallets with less than 0.01 XRP cut their balances by 5.2%.

Santiment noted that XRP has historically tracked the behavior of key stakeholders more closely than the smallest retail wallets, making the divergence supportive of the recent price recovery. The accumulation trend comes as the crypto asset continues to benefit from a stronger market narrative, including the resolution of Ripple’s SEC overhang, ongoing XRP Ledger activity tied to payments, tokenization, and RLUSD, and continued institutional interest in US-based spot XRP ETF products, which recorded nearly $12.5 million in net inflows so far this month.

From a technical perspective, ChartNerd said XRP faced another rejection after testing its daily 50-day exponential moving average (EMA), the same level where its previous two rallies lost momentum. The price has since pulled back to around $1.13. Despite the rejection, the bullish outlook remains intact as long as XRP holds the $1.11-$1.09 support zone. Maintaining that range could preserve momentum for a move toward $1.25. However, a break below the support area would weaken the setup and increase the likelihood of falling back to $1.

Analyst Ali Martinez also noted that a decisive move above $1.13 could confirm XRP’s bullish breakout and open the door to further gains. Others believe the token continues to trade within a year-long descending pattern, and only a clear break above $1.20-$1.30 soon could invalidate the setup.

Source: https://cryptopotato.com/classic-bullish-xrp-pattern-emerges-as-large-wallets-keep-accumulating/