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As of last check, the $XRP price was trading at $1.43, down 1.8% on the day.
However, on-chain metrics and institutional flows are showing signs of underlying strength and hinting that holders are becoming increasingly bullish.
According to Santiment data shared on X, wallets holding at least 10,000 $XRP climbed to a record 332,230, extending a steady accumulation trend that has been in place since June 2024.
The analytics firm said large holders continued adding $XRP even during periods of market weakness and volatility.
Santiment also pointed to a sudden decline of more than 4,500 whale wallets between Feb. 6 and Feb. 8, though it stated there was “no confirmed $XRP-specific event directly tied” to the drop.
Around the same time, institutional demand for $XRP-linked investment products strengthened.
CoinShares reported that $XRP exchange-traded products recorded $40 million in inflows during the week ending May 8, pushing year-to-date inflows to $191 million and assets under management to $2.5 billion.
CoinShares head of research James Butterfill described the pace of inflows as a “notable acceleration,” tying the activity to recent developments surrounding the US CLARITY Act compromise proposal on stablecoin yields.
Spot $XRP ETFs listed in the US also extended their inflow streak.
Data from SoSoValue showed the products attracted $25.8 million on May 11, their strongest single-day intake since Jan. 5.
Traders monitor $1.50 breakout zone
Near current levels, analysts continue to treat the $1.50 area as $XRP’s most important resistance level.
On the 1-day $XRP/USD price chart, the token is trading above its 50-day EMA near $1.41 while remaining below the 100-day EMA around $1.49 and the 200-day EMA near $1.71.
$XRP/USD 1 - day price chart. Source: TradingView.
This configuration suggests that $XRP is currently trapped in a consolidation phase between short-term support and longer-term resistance.
While holding above the 50-day EMA indicates a degree of immediate resilience, the fact that the price remains suppressed by the 100-day and 200-day EMAs highlights a persistent bearish trend in the medium to long term that can only be invalidated by a decisive breakout.
However, according to pseudonymous crypto analyst Bird, $XRP has recently broken above a multi-month support line, which could position it for a major rally next.
$XRP/USD 1 - Day price chart. Source: Bird on X.
Fellow analyst ChartNerd agrees with the upside outlook, adding that the token’s rebound from ascending support had opened the possibility of a move toward $1.80.
Such a bullish reversal could gain significant traction if positive sentiment builds around the CLARITY Act hearing scheduled for later today, which could serve as the fundamental spark needed to overcome the current technical ceiling.
Formally classifying $XRP as a commodity could resolve the long-running jurisdiction dispute between the US Securities and Exchange Commission and the Commodity Futures Trading Commission.
Regulatory certainty could reduce institutional hesitation around $XRP-linked products and financial infrastructure integration and unlock a new wave of capital inflow into the ecosystem.
However, for now, the market remains cautious, with $1.44 acting as immediate support, followed by stronger downside levels near $1.30 and $1.20 if sellers regain control.
On the upside, a confirmed daily close above $1.50 could expose $XRP to resistance at $1.60 before traders begin targeting the $1.80 to $1.85 region.