XRP’s long-term holders have spent five straight months accumulating the token, but weak price action suggests the market has yet to treat it as a bullish signal.
XRP Hodlers Are Buying the Dip
XRP holder net position change has remained positive for five consecutive months, according to Glassnode data, indicating that long-term investors have continued adding to their balances despite the token’s broader downtrend.
The metric tracks the monthly net change in supply held by long-term XRP holders. Positive readings typically suggest accumulation, while negative readings point to distribution. Since early 2026, the gauge has stayed above zero, with recent monthly inflows appearing near the 150 million to 250 million XRP range.
The current streak resembles the pre-rally accumulation phase seen before XRP’s November 2024 breakout.
Back then, holder net position change stayed positive while price remained subdued, suggesting long-term investors were absorbing supply before the market repriced higher. Once XRP surged, the metric flipped sharply negative, indicating that some holders sold into strength.
ETFs Are Contributing to XRP Demand
Spot XRP exchange-traded funds may also be contributing to the accumulation trend.
SoSoValue data shows that spot XRP ETFs recorded $118.29 million in net inflows in May, with total net assets near $1.12 billion. At XRP’s price of around $1.33, May’s inflows imply roughly 89 million XRP worth of demand from ETF products.
That means ETF-related buying could account for a meaningful share of recent holder accumulation. However, Glassnode’s holder metric does not isolate ETF wallets, making it difficult to determine how much of the positive net position change came directly from fund custody addresses.
As a result, XRP’s five-month accumulation streak likely reflects a combination of ETF demand, long-term holder buying and broader supply absorption.
XRP Price Still Risks a Breakdown Below $1
XRP’s technical structure remains fragile, with the token consolidating inside a symmetrical triangle since February.
The pattern has formed after a broader decline from XRP’s 2025 highs. That matters because symmetrical triangles often act as continuation structures when they appear after a strong directional move. In XRP’s case, the preceding move was lower, keeping the risk tilted toward a bearish breakdown.
XRP is now trading near the lower boundary of the triangle, around the $1.30–$1.35 area. A decisive daily close below that support could confirm the breakdown and open the door to a measured move toward roughly $0.99.
The downside target comes from the triangle’s maximum height, projected from the likely breakdown point. It also lines up with the psychological $1 level, which could become the next major support area if selling pressure accelerates.
Momentum indicators have not shown a strong bullish reversal either. XRP remains below its 20-day (green), 50-day (red) and 200-day (blue) exponential moving averages (EMAs). Its daily relative strength index sits near 40. That suggests weak demand, but not yet the kind of oversold condition that often precedes a sharp relief rally.
The macro backdrop also remains difficult for crypto assets.
The broader market has struggled under pressure from the US–Iran war, higher oil prices and renewed inflation concerns. Oil-led inflation risks have reduced expectations for Federal Reserve rate cuts, while some traders have started considering the possibility of tighter policy by early 2027.
That environment has historically weighed on speculative assets. Crypto markets tend to perform better when liquidity conditions improve, and rate expectations fall. The opposite setup—sticky inflation, higher yields and fading rate-cut hopes—usually limits upside attempts.