XRP (XRP) traded within a key “value zone” where whales recently accumulated $170 million, signaling a tightening liquidity supply.
Key takeaways:
XRP whales withdrew 122 million XRP, worth $170.8 million, from Binance, while price is near the key $1.35-$1.40 support.Exchange outflows and steady spot XRP ETF inflows point to a tightening supply and growing demand for XRP.XRP price could target $2.33 if bulls break above $1.50 resistance, with Bollinger Bands hinting at a big move ahead.
122 million XRP withdrawn from Binance exchange
XRP whale withdrawals, large exits above 1 million coins per transaction, hit 122 million on Binance on May 22, worth about $170.8 million at current rates, according to data from CryptoQuant.
This marked their first daily withdrawal above 1oo million XRP since the 278 million XRP seen in early February.
“What makes the latest move more important is the price context,” CryptoQuant analyst Amr Taha said in a Monday QuickTake post.
Note that the Feb. 9 withdrawal spike happened while XRP was trading near $1.43, while the May 22 spike came with XRP around $1.35.
“This makes the $1.35–$1.40 range an important zone to watch for XRP,” the analyst said in another QuickTake post, adding:
“Repeated withdrawals near the same price range may indicate that some larger players view this area as a value zone.”
XRP: Whale outflows from exchanges. Source: CryptoQuant
Such outflows typically indicate accumulation by large holders, who move tokens to self-custody or increase exposure to XRP investment products, thereby reducing immediate sell-side pressure.
Meanwhile, inflows for US-based spot XRP ETFs continue with these investment products recording positive flows for 16 consecutive days, totalling $116.75 million.
Spot ETH ETFs flows chart. Source: SoSoValue
XRP price must hold $1.30 as support
The XRP/USD pair has been trading in a tight range between $1.30 and $1.50 since early February.
XRP’s bullishness now hinges on holding $1.30 as support if it “stands another chance at retesting $1.50 resistance,” analyst ChartNerd said in a recent post on X.
“$1.30 is a current guardrail,” the analyst said, adding:
“If lost, a deeper drop to the lower $1 territory is likely in the coming weeks.”
XRP/USD daily chart. Source: X/ChartNerd
XRP trades within a multi-year range from May 2022 to November 2024. Eventually, a break above the upper limit of this range at $0.68 preceded a 400% rally to $3.40 in January 2025.
If the XRP/USD pair holds within its current range, a similar upward move could be seen once a decisive move supported by strong volume above the upper limit at $1.50 is achieved.
XRP/USD three-day chart. Source: Cointelegraph/TradingView
Meanwhile, the Bollinger Bands are still at their tightest level since mid-2024. Similar occurrences have previously led to gains of 58%-82% in XRP price, as shown in the chart above.
As such, XRP could rise as high as $2.33 if a similar breakout scenario plays out.
Analyst Crypto Patel referred to the current range as the “best accumulation zone,” adding that the muted price action resembles the calm before its major breakout in late 2024.
The analyst’s upside target is $10, implying a roughly 7x potential from the lower end of the accumulation range if XRP repeats its 2022–2024 cycle-style expansion.
XRP/USD two-week chart. Source: X/Crypto Patel
As Cointelegraph reported, overhead resistance at $1.40-$1.50 is likely to keep the price in check unless the bulls muster the strength to overcome it over the next few weeks.
