Key facts
- XRP has risen above $1.18 on strong trading volume, surpassing previous resistance levels.
- XRP-linked ETFs have seen approximately $1.4 billion in cumulative inflows.
- A trend of XRP leaving exchanges suggests accumulation by long-term holders.
- Record highs in XRP whale addresses indicate increased exposure from large investors.
- Key support levels are now seen at $1.18 and $1.14-$1.15, with resistance near $1.20 and $1.27-$1.30.
XRP has experienced a notable price increase, climbing over 4% to trade above $1.18 on strong trading volume. This surge has pushed the cryptocurrency past key resistance levels between $1.14 and $1.15, suggesting a potential shift from a brief rebound to a more sustained base-building phase.
The recovery is supported by robust institutional interest, with XRP-linked Exchange-Traded Funds (ETFs) attracting approximately $1.4 billion in cumulative inflows since their launch. May marked the strongest month for institutional demand. Furthermore, a trend of over 25 million XRP leaving exchanges indicates that long-term holders are accumulating the token, even amidst broader market weakness. Whale addresses, which hold substantial XRP balances, have also reached a record high, reinforcing the sentiment that larger investors are increasing their exposure during the recent market correction.
Technically, the reclaim of the $1.14-$1.15 area, which previously acted as resistance, is a significant development, now flipping into support. The increased volume accompanying this move suggests genuine buying interest beyond simple short-covering. Momentum indicators are showing improvement, with some analysts observing a bullish Relative Strength Index (RSI) divergence that emerged while XRP was testing lower support zones, often signaling a potential trend exhaustion.
While the broader downtrend has not been definitively broken, XRP is beginning to print higher lows and higher highs, a departure from its previous freefall. Traders are closely watching the $1.18 level as immediate support, followed by the critical $1.14-$1.15 zone. The next immediate target is the psychological level of $1.20, with further resistance anticipated in the $1.27-$1.30 area, where Fibonacci and trendline resistance converge. The constructive recovery is expected to continue as long as XRP maintains its position above these breakout levels.