XRP Whale Wallets Hit All-Time Highs—Can XRP Break $1.50 Toward $2?
XRP is rebounding from April’s $1.26 lows and jumped up to about $1.50 (+19% in the recent move), as market data points to stronger positioning from XRP whale wallets.
Santiment reports that wallets holding at least 10,000 XRP reached an all-time high of roughly 332,230, suggesting deeper accumulation rather than short-term trading. At the same time, XRP Ledger (XRPL) monthly transactions hit a record 71 million in April (about +65% year-over-year), indicating expanding network usage.
Technically, XRP is attempting to break out from an ascending triangle formation that has capped price action since early February. Traders are watching the $1.50 resistance zone closely: the article notes XRP has rejected this supply area four times since mid-February, and bulls need to flip $1.50 into support to open the path toward $2.
Additional chart levels cited by analysts include:
- $1.67–$1.70 supply zone (near the 200-day EMA), a secondary barrier.
- A potential measured target around $1.98 if the triangle resolves upward.
- Commentary that a cleaner reclaim above $1.60 would improve near-term momentum, while reclaiming above $2.00 could attract fresh upside buying.
Market context: whale long positions appear dominant versus retail demand, reinforcing the idea that XRP whale wallets are maintaining a bullish bias.
Not investment advice.
Bullish
The news is broadly bullish because both positioning and activity metrics support a potential XRP breakout. First, Santiment’s all-time high in XRP whale wallets (≥10,000 XRP holders) signals sustained accumulation during volatility—often a precursor to trend continuation rather than a one-off bounce. Second, XRPL monthly transactions reaching an all-time high (71M) improves the probability that demand is not purely speculative.
Technically, XRP is pressing against a well-defined inflection point at $1.50, repeatedly rejected but now tied to an ascending triangle pattern. In past breakouts, when price converts a major resistance (especially one aligned with moving averages) into support, momentum traders often join, increasing the odds of a faster move toward the triangle’s measured target.
Key trading implication: expect two-sided volatility around $1.50–$1.60. A clean reclaim and hold above $1.50 increases the odds of a move toward ~$1.98 and potentially $2. Conversely, rejection would likely trap late longs and keep XRP consolidating under the triangle ceiling.
Long-term, rising mid-to-large wallet counts plus XRPL usage growth suggests institutional/utility-backed engagement, which can reduce the likelihood of a purely hype-driven rally. However, until $1.50 is confirmed as support, traders should treat the $2 target as conditional.