- XRP whale wallets reached a new all-time high this week
- Analysts see breakout potential above the $1.52 resistance zone
- Holding the $1.38 support keeps bullish momentum intact
XRP price continued trading within a tight consolidation range this week as traders monitored a possible breakout above key resistance. The token moved between $1.43 and $1.47 while maintaining a broader bullish structure despite recent market volatility. Analysts believe XRP price still has room for another upward move as long as support near $1.38 remains intact.
At the same time, on-chain data from Santiment showed a sharp rise in whale accumulation. Wallets holding at least 10,000 XRP recently climbed to a record high of 332,230, signaling growing confidence among larger investors.
XRP Price Defends Support While Bulls Target Breakout
According to More Crypto Online, the recent decline from the May 10 high still appears corrective rather than bearish. The pullback has developed into a three-wave decline, which often signals temporary weakness before another upward attempt.
The key support zone currently sits between $1.40 and $1.42. Analysts noted that the internal 100% extension target near $1.41 has already been reached, making this area important for short-term stabilization.
As long as XRP price holds above the crucial $1.38 swing low, the current bullish wave structure remains valid. A sustained rebound could allow buyers to challenge the major resistance zone between $1.48 and $1.52.
Technical indicators also suggest improving momentum. The Relative Strength Index remains above neutral levels near 50, showing buyers still maintain some control without pushing the asset into overbought conditions.
XRP Whale Wallets Reach New High During Consolidation
On-chain metrics continue supporting the bullish narrative for XRP price. Santiment data revealed that whale wallets steadily increased despite broader market uncertainty throughout 2026.
A brief decline in large wallet holdings occurred during the February market-wide liquidation event. However, accumulation quickly resumed afterward, pushing whale wallet numbers toward fresh all-time highs.
Meanwhile, the Gaussian Channel on the daily chart has started flattening after months of downward pressure. This often signals weakening bearish momentum and possible trend stabilization.
If XRP price successfully closes above the $1.52 resistance level, analysts expect a move toward $1.60 initially. Further upside targets stand near $1.72 and $1.85 if momentum strengthens. However, failure to break resistance could extend the ongoing consolidation phase, while a drop below $1.35 may weaken the bullish outlook significantly.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
