XRP is seeing a sharp increase in large wallet activity, sparking speculation about a potential breakout. According to a May 5 update from crypto analyst Kyledoops, over 300,000 addresses now hold at least 10,000 XRP—a milestone that suggests significant accumulation by whales and institutional players.
“Looks like strategic accumulation is back,” Kyledoops wrote, pointing to a possible setup for major XRP developments ahead.
Despite this whale buildup, XRP’s price remains stuck in a sideways trading range, frustrating some investors expecting quicker gains.
Analysts Point to Institutional Accumulation Tactics
Crypto analyst Max Avery added to the discussion on May 6, stating that XRP’s narrow price movement could reflect institutional accumulation through low-volatility strategies such as time-weighted average price (TWAP) and volume-weighted average price (VWAP).
“This kind of stealth buying is common when institutions are preparing for catalysts like an ETF,” Avery noted.
When asked why spot ETF rumors haven’t already boosted the price, Avery said the effects of institutional positioning could unfold more gradually rather than in sudden spikes.
Fundamentals Strengthen: XRP Outperforms in Q1
Ripple’s Q1 2025 report highlighted strong performance from XRP:
- XRP surged nearly 50% in early February, outperforming both Bitcoin and Ethereum.
- The XRP/BTC ratio rose by 10%, signaling relative strength.
- XRP investment products attracted $37.7 million in inflows, just behind Ethereum’s $214 million.
Other bullish catalysts include:
- The launch of a leveraged XRP ETF in April.
- Pending spot ETF filings from Franklin Templeton and Bitwise.
- Ripple’s long-awaited settlement with the SEC, which closed with a $50 million payment. Market reaction was muted, likely because the outcome had been anticipated.
Technical Picture Remains Mixed
On the bullish side, XRP has held support at $2.05 and remains above the 200-day EMA near $1.99. The stochastic RSI shows oversold conditions, signaling a potential bounce.
If XRP breaks above the 10-day EMA at $2.17 and the 20-day EMA at $2.19, a rally toward $2.30–$2.40 may follow.
However, the bearish case remains valid:
- XRP trades below key short- and mid-term moving averages.
- The RSI sits at a neutral 48.7, showing weak momentum.
- The MACD and other trend indicators lean slightly bearish, suggesting sellers still hold sway.
If XRP loses its $2.05 support, the price could slide back to $1.99 or lower, potentially invalidating the bullish accumulation thesis—at least in the short term.
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Final Take: Are Whales Betting on What’s Coming?
With whale wallets surging and ETF-related speculation growing, investors are watching closely: Do whales know something the market doesn’t?
For now, the answer lies in how XRP reacts to near-term support and resistance zones—and whether upcoming catalysts finally push price action out of its current range.
