(SeaPRwire) – By: Christian Pierce
Right now, XRP’s market is split right down the middle. Large wallet holders are doubling down on their positions. The smallest retail traders are bailing their holdings. That’s not the usual setup for a breakout. It’s got every active trader asking the same question: will the $1.16 resistance finally give?
Let’s break down the hard on-chain and technical data first. Santiment’s tracking shows wallets holding 100,000 to 100 million XRP increased their combined holdings by 2.8% over five weeks. Micro wallets holding less than 0.01 XRP reduced their balances by 5.2% in that same period. The contrasting wallet behavior doesn’t confirm a breakout, but it adds context to the current price test. Whales accumulated while selling pressure from larger holders eased during the recent consolidation. That shift separates this rebound from moves driven only by broad short-term retail participation. XRP currently trades near $1.13, after reclaiming its 50-day moving average at $1.117. The middle Bollinger Band sits near $1.11, which is also a key short-term support level. The upper Bollinger Band sits at around $1.16, matching the primary resistance zone. MACD has crossed above its signal line, and the histogram has moved into positive territory. That signals improving buying momentum. The rising trendline from the late-June $1.01 cycle low also meets resistance at the $1.15 to $1.16 zone. A daily close above $1.16 would strengthen the breakout case and target resistance near $1.24. A break below the $1.11 support level would weaken momentum and push price back toward the psychological $1.10 level.
The split between whale accumulation and retail exodus tells a clear story. This rebound isn’t driven by casual retail hype. It’s driven by deliberate large-scale positioning. But even with improving momentum, a sustained breakout above $1.16 will require more than just whale buying. Trading volume will need to jump to confirm broad market participation. As the original analysis notes, XRP whales alone cannot confirm continuation without corresponding strength in price and trading activity. If volume stays flat, any push past $1.16 will likely be a fakeout. Price will pull back to test the $1.11 support level. For active traders, the next 48 hours of price action and volume will make or break this setup.
Author bio: Christian Pierce, a chief financial columnist and markets commentator with over a decade covering digital asset and equity trading trends.