This week, XRP prices continued to trade within a narrow range, with traders closely monitoring opportunities for a potential breakout above key resistance levels. The token fluctuated between $1.43 and $1.47, maintaining a broadly bullish structure despite recent market volatility. Analysts believe that as long as the support level at $1.38 holds, there is still room for further upside in XRP prices.
Meanwhile, on-chain data from Santiment shows a significant increase in the cumulative holdings of whales. The number of wallets holding at least 10,000 XRP recently climbed to 332,230, indicating growing confidence among large investors.
XRP Price Defends Support, Bullish Targets in Sight
According to More Crypto Online, the pullback from the May 10 high appears to be corrective rather than bearish. This retracement has formed three waves down, which typically suggests a temporary weakness before another rally. XRP continues to trade within a broader range, but the pullback from the May 10 high is still viewed as a correction, currently manifesting as three waves down. Importantly, the market has yet to break below the key support level of $1.38; as long as this level is maintained, the market structure will remain intact.
Currently, the key support zone is between $1.40 and $1.42. Analysts point out that the internal 100% extension target near $1.41 has been reached, making this area crucial for short-term stability.
Technical indicators also show signs of improving momentum. The Relative Strength Index (RSI) remains above the neutral level near 50, indicating that buyers still have some control over the market without pushing the asset into overbought territory.
Whale Wallet Count Reaches New High During Consolidation
On-chain metrics continue to support the bullish narrative for XRP prices. Santiment's data reveals that despite overall market uncertainty in 2026, the number of whale wallets is steadily increasing.
According to our on-chain data, the number of wallets on the XRP ledger holding at least 10,000 XRP has reached 332,230, setting a new all-time high. This upward trend has been ongoing since June 2024. The continuous rise in the number of XRP ledger wallets holding at least 10,000 XRP is...
Meanwhile, the Gaussian channel on the daily chart has begun to flatten after months of downward pressure. This typically indicates a weakening of bearish momentum and a potential stabilization of the trend.
If XRP prices successfully close above the resistance level of $1.52, analysts expect the first target to be $1.60. Should momentum strengthen, further upside targets will be at $1.72 and $1.85. However, if the resistance is not broken, the current consolidation phase may extend, and a drop below $1.35 could significantly weaken the bullish outlook.