Although the price of XRP has been moving flat recently, on-chain data shows that whales have been buying this coin behind the scenes. Notably, there are now 332,230 wallets that hold over 10,000 XRP coins. This is a new ATH for XRP.
Not only that, this milestone is interesting since it shows that mid-sized and larger holders keep buying XRP even though it struggles to break out at the moment.
XRP Whale Wallets Continue Growing
According to an X post from Santiment, XRP Ledger has reached an ATH of 332,230 wallets holding at least 10,000 XRP coins. They claim this is an important long-term signal for the market.
The rise in wallets holding at least 10,000 of a coin is seen as a positive indicator because it suggests they are focused on long-term value rather than short-term speculation. This is encouraging for XRP since these mid-to-large sized holders have been accumulating this crypto even during price dips.
XRP Price Remains Range-Bound Despite Accumulation
The XRP price has not been doing great despite record wallet numbers. CoinMarketCap shows that the price of XRP has been trading flat between $1.44 and $1.45 in the past seven days. This can be seen as a correction since its value has surged over 10% on the one-month chart from $1.32.
However, there is still bullish market sentiment for XRP as prominent influencers remain optimistic. For instance, Celal Kucuker made an X post saying that the XRP price has the potential to reach $12 by 2027. He projected XRP reaching $2.40 in January of 2026 and then $1.10 in February. Both predictions give credibility to his roadmap. He bases this prediction on the fact that this crypto may now be forming a cup and handle formation.
For those unfamiliar, the cup and handle is a bullish indicator where the price action carves out a U-shaped "cup" followed by a slight downward-drifting "handle". A breakout above the handle's resistance level signals an upside move. This suggests XRP may now be taking a brief pause before likely continuing its rally.
But, Celal also notes that the XRP price must go past the long-term resistance level of $3.65 for this bullish thesis to play out. Currently, the immediate resistance level that traders should watch is $1.46. If XRP manages to break past this level, it could go to $1.50. On the other hand, the immediate support sits at $1.42. If a dip happens, the price of XRP could drop as low as $1.38 which is its critical support level.
Technical Analysis Paints a Mixed Picture for XRP
Amidst the positive wallet growth data, XRP’s technical indicators are showing mixed signs. For instance, TradingView data shows that the MACD (12,26) indicator is currently bullish with a value of 0.00039. Its 12-day EMA is now sitting above its 26-day EMA, which suggests the upward momentum is strengthening.
Nevertheless, the 14-day stochastic oscillator now shows that its main momentum line sits at 8.64 while its signal line is at 10.80. Typically, a stochastic reading of 20 or below means overselling and thus the coin is likely due for a bounce. However, because the signal line is still above the main line, it shows that downward pressure is building. These indicators combined may suggest that XRP could continue trading flat for the time being.
Bigger Holders Continue Betting on XRPc
Santiment data shows that big holders/whales continue believing in the long-term potential of XRP despite its lack of explosive price movement. Wallets with more than 10,000 XRP hitting ATH means accumulation has continued. It is a useful indicator for mid-sized XRP holders as it captures the collective behavior beyond just big whales. This shows that the middle class of investors is focusing on building positions for an expected XRP breakout.
This does not guarantee an increase in the price of XRP. Right now, the focus should be on the price point of $1.4620. If that resistance level becomes a support level, we could see a really strong upward move for XRP to the $1.50 level. Do you think the XRP price can break through the $1.50 resistance level or will we see another rejection in the future? Let us know what you think.
