XRP bounced from its $2.70 support level on Monday, briefly climbing 8.5% to a high of $2.92 before giving back some gains to profit-taking. Despite the pause, heavy whale accumulation and a strong technical setup are raising expectations of a potential breakout toward $4.20.
Key Highlights
- Whales added over 120 million XRP, worth about $340 million, in three days.
- Whale wallets now control around 8% of XRP’s circulating supply.
- $2.88–$2.95 remains a key resistance zone; clearing it could trigger a sharp rally.
- Analysts see potential for a fast move once XRP breaks the triangle pattern.
Whales step in
Blockchain data shows that large XRP holders remain confident in the token’s upside. According to Santiment’s Supply Distribution metric, wallets holding between 10 million and 100 million tokens accumulated more than 120 million XRP in the past three days. That accumulation, valued at roughly $340 million, lifted their share of the circulating supply to about 8%.
Technical picture
On the charts, XRP’s rebound stalled at $2.95, a resistance level that aligns with the 50-day simple moving average (SMA). Support is now seen at $2.80, with a stronger defence zone between $2.69 and the 200-day SMA at $2.55.
For bulls to regain momentum, XRP must hold above the $2.88–$2.95 band, where both the 50-day and 100-day SMAs are converging. A successful push above this supply zone would also clear the upper trendline of a symmetrical triangle at $3.05.
Path to $4.20
Breaking out of that consolidation pattern would set up a measured target near $4.20, representing a 47% rally from current levels. Analysts tracking the move said XRP’s next breakout could unfold quickly and with intensity once the triangle resistance is breached. But it is trading at $2.93 at the time of publication.