XRP, Whale Wallets Surpass 330,000...Will it Break $1.58?

▲ XRP, Whale/AI Generated Image

XRP is raising bullish expectations ahead of the vote on the XRP Ledger lending protocol update. With the number of wallets holding more than 10,000 XRP reaching an all-time high, technical indicators suggest that the possibility of breaking through short-term resistance has emerged as a key market variable.

CoinGape reported on the 13th that XRP reached $1.50 on May 10th, and the number of wallets holding more than 10,000 XRP hit an all-time high of 332,230. This figure was presented as a basis for the projection that XRP could return to $1.50 or rise to $2.

Santiment revealed that the number of wallets holding over 10,000 XRP has continued to increase over the past two years. These wallets were found to have continued buying even after XRP reached $3.36 in June 2025 and then fell to $1.11 in less than seven months.

Santiment explained, "It is particularly noteworthy that XRP traded below its previous high for a significant period in 2026. This means that many holders are showing an attitude of accumulating during periods of fear rather than chasing upward momentum."

CoinGape analyzed that this buying trend could also be related to the XRP Ledger lending protocol vote. Among XRP validators, 22% have already voted in favor of the lending protocol update, which introduces decentralized finance to the XRP Ledger, and the vote has not yet closed.

The vote is taking place at a time when the possibility of the US crypto market structure bill, which includes decentralized finance regulatory provisions, being passed is presented as 60%. CoinGape predicted that if the lending protocol update occurs before the end of 2026, XRP could reach a new high above $3.84.

The price movement has also entered a phase that will determine whether it breaks through short-term resistance. XRP rose from $1.34 on April 29th to $1.46 today. CoinGape analyzed that while large buying volume is flowing in, retail investors are likely the main drivers of the rapid rise, and they may be waiting for a signal where the 50-day Simple Moving Average rises above the 100-day Simple Moving Average.

XRP is targeting the $1.48 resistance level and waiting for a crossover between the 50-day Simple Moving Average and the 100-day Simple Moving Average. Until this crossover occurs, the $1.48 resistance could remain an obstacle that XRP cannot overcome. If XRP breaks through the $1.48 resistance, the next target is set at $1.58.

The Relative Strength Index recorded 58. This was interpreted as a signal that although XRP is approaching a major resistance level, buying pressure has not receded. CoinGape analyzed that a trend where buying pressure outweighs selling pressure could push XRP up to $1.58.

In a previous analysis, CoinGape suggested that if XRP maintains the $1.35 support level, it could reach $1.84. As of today, at $1.46, XRP is 8.15% above that support level, and CoinGape stated that $1.58 could be the first gateway towards $1.84.

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