XRP whale wallets, XRPL transactions hit records; $1.50 test

Wallets holding at least 10,000 XRP reached a record 332,230, and monthly transactions on the XRP Ledger totaled about 71 million in April, data show, as the token climbed to $1.50 from April lows near $1.26. Traders say a sustained break above $1.50 is needed to extend recent gains.

Santiment reported the all-time high in large-wallet counts and described the increase as ‘a consistent growth trend that has been building since June, 2024.’ The firm framed the rising number of mid- to large-size holders as evidence that larger accounts have continued to accumulate during periods of volatility.

Evernorth data showed XRPL monthly transactions rose to 71 million in April from about 43 million a year earlier, an increase of roughly 65% year over year. Evernorth linked the growth to institutional activity tied to exchanges and services including Bitstamp, RLUSD and Braza Bank, and to several decentralized finance protocols that use the ledger’s compliance-focused features.

Price action returned from April lows near $1.26 and advanced as much as 19% to a three-week high of $1.50 on Sunday. On-chain metrics indicate growing long exposure among larger holders during the recent consolidation.

Technical indicators show XRP trading inside an ascending triangle that formed in February. The flat top of that pattern aligns near $1.50 with the 100-day exponential moving average, a level where price has been rejected multiple times since mid-February. Analyst ChartNerd wrote on X that the zone around $1.50 to $1.55 remains immediate resistance and pointed to the daily 20 EMA, reclaimed in early May near $1.42, as a recent support guide.

The next supply band sits around $1.67 to $1.70 near the 200-day EMA. A breakout above the triangle would place the measured target near $1.98, about 36% above the recent price. Analyst Neel wrote that XRP needs ‘a clear break above $1.60 for any meaningful short-term rally’ and that climbing above $2.00 would ‘generate fresh momentum.’

Positioning data show whale long positions dominating retail exposure. Analyst CW8900 noted that larger holders appear to be maintaining long exposure compared with smaller traders.

Traders following XRP say the price must flip $1.50 into support to confirm a breakout and lower the chance of further rejections. Until that level is reclaimed and held, sellers around the triangle top and the 100-day and 200-day EMAs could limit upward moves.