XRP Price Analysis: XRP Ready for a Breakout as Whale Accumulation Builds

XRP is gearing up for a price breakout as the broader crypto market turns bullish and whales accumulate the coin in large numbers.

XRP moved one place lower in the crypto market ranking, with BNB overtaking it to become the third-largest cryptocurrency by market cap excluding stablecoins. This comes as XRP continues to consolidate, trailing the momentum seen among large-cap coins like Bitcoin and Ethereum.

At the time of writing, XRP trades at $1.35, down a little over 1% in the past 24 hours. The coin has also remained almost unchanged in the past seven days, down just 1.9%, further confirming how stagnant its price has been lately.

XRP Price Analysis

Despite this consolidatory trend, the positive is that the XRP price has held support. While it has not yet broken out, the altcoin has maintained the $1.30-$1.33 support zone, keeping hopes of a breakout alive.

Notably, XRP has consolidated around the mid $1.30s for over two weeks now, building momentum for a breakout. For context, the longer a consolidation, the stronger the breakout. Now, with the broader market recovery and sentiments improving, it is only a matter of time before XRP breaks out.

The crucial point to watch is the 50-day moving average. XRP has faced rejection on the last two attempts to break above this dynamic resistance, peaking at around $1.395 on April 7 and 14.

Multiple retests weaken selling pressure, and if XRP keeps hitting this supply wall, a breakout could be imminent. Currently at $1.38, breaking above the 50-day MA with strong volume sets the pace for a rally to the next resistance stronghold around $1.46.

However, further market participation could help this course. Futures trading volume is down 2.67% in the past 24 hours, and XRP spot activities have dropped 7.38% in the same timeframe. XRP open interest has also dropped 4.43% in the past day, indicating slower spot and derivative traction towards the coin.

Whale Accumulation Provides Support

However, amid the XRP consolidation, whales are accumulating in large numbers. Recent data confirmed that XRP whales bought 20 million XRP in the past week, pushing their stash above 3.7 billion tokens.

Coinglass’ XRP spot flow also confirms an increased accumulation among holders. In the past 24 hours, $130.52 million flowed into exchanges, while $131.48 million flowed out, resulting in a net outflow of $966,180. The pattern becomes even clearer on higher timeframes, with $685.18 million entering exchanges and $694.11 million leaving.

The trend indicates clear accumulation relative to distribution, as holders move their stash into self-custody wallets for long-term holding. Such accumulation near support further builds the momentum for a breakout and subsequent price expansion.