Key Highlights
- XRP has rallied approximately 30% from its February bottom of $1.11, presently hovering around $1.41
- Crypto analyst MilkybullCrypto projects XRP could reach $12 based on a decade-long ascending channel pattern
- Large holder deposits to Binance have plummeted to 736 million XRP—the lowest level in four years—compared to 2.6 billion in March
- Spot XRP exchange-traded funds in the United States attracted $81.6 million during April, with an additional $28.17 million flowing in during May’s opening week
- Technical charts suggest a breakdown below $1.33 could drive XRP down to $0.93, representing a potential 30% decline
XRP has staged an impressive recovery, climbing approximately 30% from February lows around $1.11, prompting analysts to identify potential scenarios that could propel the digital asset toward $12 based on technical chart formations and evolving blockchain metrics.
Crypto analyst MilkybullCrypto presented a monthly timeframe chart illustrating XRP’s price action within an ascending channel formation that originated in 2014. The current price position sits close to the channel’s bottom trendline, a critical zone spanning $1.30 to $1.40 that has repeatedly served as a launching pad for substantial upward movements. According to MilkybullCrypto, XRP is “probably going to $12,” a target that corresponds with the channel’s median point.
The monthly Relative Strength Index for XRP’s has declined into the 40–45 territory, a threshold that has consistently preceded significant bullish price movements in previous cycles. Market analyst JD highlighted this zone as a probable cycle bottom indicator.
JD’s bi-weekly chart analysis reveals XRP breaking through a years-long symmetrical triangle formation and subsequently retesting the breakout level. His price projection establishes a target range spanning $8 to $14.
Blockchain Data Reveals Diminishing Sell Pressure from Large Holders
On-chain metrics strengthen the optimistic outlook. According to CryptoQuant analytics, XRP whale deposits to Binance have decreased dramatically to 736 million XRP, down sharply from 2.6 billion recorded in early March. This represents the lowest level witnessed in four years.
Reduced exchange deposits from major holders generally indicate diminished selling intentions. Historical patterns show that comparable declines have often preceded supply constraints that catalyzed upward price movements.
Market analyst Dom observed that despite approximately $35 million worth of XRP being liquidated on Binance throughout the previous seven days, market participants consistently placed fresh buy orders to absorb the selling pressure. Dom indicated that a breakout above $1.47, particularly if accompanied by Bitcoin strength, could initiate a substantial rally. High-volume price objectives on his 12-hour timeframe chart are positioned near $1.80 and $2.10.
Market technician ChartNerd (@ChartNerdTA) shared on X that as XRP’s apex approaches in May, “a decisive break of this structure is likely around the corner.” He emphasized that even a temporary dip toward the $0.90–$0.70 zone would not alter the overarching bullish outlook, stating that the macro directional bias remains firmly upward.
Exchange-Traded Fund Demand Adds Fundamental Strength
United States spot XRP exchange-traded funds registered $81.6 million in net inflows throughout April, marking their most robust monthly performance of 2026. May’s inaugural week contributed an additional $28.17 million. Combined net assets under management across XRP ETFs currently total $1.43 billion. Traditional finance institution UBS has also established a position in the Grayscale XRP ETF.
Rakuten Wallet incorporated XRP support in Japan, broadening the digital asset’s accessibility in one of cryptocurrency’s most significant retail markets.
XRP is presently changing hands near $1.41, with a 24-hour trading range extending from $1.40 to $1.46.
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