XRP traded near $1.31 inside a falling channel that began in mid-February. The cryptocurrency must reclaim $1.35 to shift from bearish to bullish. That level aligns with the 20-day exponential moving average, where past breaks triggered 11% price swings in either direction.
Whale Holdings Shrink
Two major whale cohorts reduced XRP holdings starting May 31. Whales holding 100 million to 1 billion XRP cut their share from 11.54% to 9.9%. Those holding 10 million to 100 million XRP eased from 17.61% to 17.36%. This marks the first significant whale selling since late April.
One-Day Hodler Drop
The Hodler Net Position Change plummeted 19% overnight. It fell from 268.4 million XRP on May 30 to 216.6 million XRP the next day. This sudden drop signals long-term holders accelerated selling just as price neared critical support.
Make-or-Break Support
XRP must hold $1.29 and $1.26 to avoid deeper declines. Losing $1.26 would expose the token to $1.22 within days. The current $1.31 price leaves only 1.5% buffer before the first support wall. Traders are watching order book depth at these levels.
Bullish Path Opens Above $1.35
A break above $1.35 would unlock $1.38, the 50-day exponential moving average. Further gains could drive XRP to $1.42 and $1.47. Only clearing $1.55 would flip the technical bias to outright bullish. The 20-day EMA coincides with the 0.618 Fibonacci retracement near $1.35.
Accumulation Without Demand
Exchange outflows suggest coins are moving to private wallets. This typically signals accumulation. Yet price failed to react. The disconnect between whale selling and stagnant accumulation has created a technical stalemate. Demand isn’t reflecting in the charts yet.
Traders are now watching whether XRP can break above $1.35 within 48 hours to avoid a test of $1.26 support.
