XRP has been trapped inside a months-long triangle range, but its largest holders are still betting on a breakout.
Whales’ XRP Holdings Hit 8-Year High
Wallets holding at least 10 million XRP now control about 45.83 billion coins, or roughly 68.5% of the token’s supply, marking their largest combined balance since May 2018, according to Santiment data.
The increase suggests that XRP’s largest holders have continued accumulating during the token’s consolidation phase. It may also indicate that smaller large-wallet cohorts, those previously holding less than 10 million XRP, have added enough tokens to move into the whale category.
These whales may include addresses associated with XRP exchange-traded funds (ETFs). As of May 18, these investment vehicles were collectively managing $59.25 million worth of assets, equivalent to about 42.32 million XRP, according to data resource SoSoValue.
If whales are absorbing liquid supply from exchanges and weaker hands, fewer coins may be available for buyers once momentum returns. In that environment, even a moderate pickup in spot demand, ETF flows, or broader altcoin risk appetite could trigger a sharper move than price action currently implies.
Crypto Patel Sees XRP Rallying Toward $15
The whale accumulation trend aligns with a bullish long-term setup shared by market analyst Crypto Patel, who argues that XRP may be nearing the final stage of its current accumulation phase.
Patel’s chart highlights the $1.00–$0.70 range as a key demand zone, describing it as a potential long-term accumulation area before XRP’s next major expansion. His upside targets sit at $5, $10, and $15, implying a possible 10x–15x move from the lower end of that range if XRP repeats its previous cycle behavior.
The comparison is based on XRP’s 2022–2024 structure. During that period, the token spent months building a base around $0.32–$0.40, then broke above a multi-year descending trendline near $0.55–$0.60 in November 2024. That breakout also cleared the broader $0.65–$0.85 resistance zone, triggering a sharp rally afterward.
A similar breakout from XRP’s current triangle range, Patel argues, could open the door to another large upside move. Still, the bullish scenario depends on XRP defending its accumulation zone and breaking above resistance with stronger volume.
XRP Downside Pressure Persists, Nonetheless
The bullish outlooks surfaced as XRP felt pressure from a broader risk-off sentiment.
The Ripple-associated token had dropped by over 11% from its April high as a rising bond market sapped appetite for risk assets. Persistent inflation led by the ongoing oil crisis served as the primary catalyst behind the decline. These macro pressures may persist as long as the US–Iran conflict remains in motion.
From a technical perspective, XRP’s weekly chart shows price compressing inside a symmetrical triangle, a pattern where lower highs and higher lows squeeze the market into a tighter range. For beginners, this means buyers and sellers are fighting for control, but neither side has won yet.
The risk is that XRP breaks below the triangle’s lower trendline near $1.30–$1.35. Such a move would signal that sellers have taken control, especially as trading volume has been fading during the consolidation.
A confirmed breakdown could send XRP toward the next major support near $1.10, the triangle’s projected downside target.