Key Takeaways
- XRP has rallied approximately 30% since hitting a February bottom of $1.11, now hovering around $1.41
- Technical analyst MilkybullCrypto projects XRP could reach $12 using a decade-long rising channel pattern
- Whale deposits to Binance have plunged to 736 million XRP—the lowest in four years—down sharply from 2.6 billion in March
- Spot XRP ETFs in the United States recorded $81.6 million in April inflows, with an additional $28.17 million in May’s opening week
- Loss of the $1.33 support level could send XRP tumbling toward $0.93, representing a potential 30% decline
XRP has staged an impressive recovery, climbing approximately 30% from its February bottom around $1.11, prompting market analysts to forecast a potential surge toward $12 based on technical chart structures and evolving blockchain metrics.
Crypto trader MilkybullCrypto published a monthly timeframe analysis revealing XRP’s movement within an ascending channel formation established in 2014. The asset is presently positioned near the channel’s bottom boundary, a critical zone spanning $1.30 to $1.40 that has historically served as a launchpad for significant upward movements. According to MilkybullCrypto, XRP is “probably going to $12,” a target that corresponds with the channel’s median line.
The monthly Relative Strength Index for XRP’s price has declined into the 40–45 territory, a technical region that has frequently preceded substantial bullish price action. Market analyst JD similarly identified this area as a potential indicator of a cyclical bottom formation.
JD’s bi-weekly chart analysis demonstrates XRP escaping from a prolonged symmetrical triangle configuration and subsequently retesting the breakout threshold. His projected price destination ranges between $8 and $14.
Declining Whale Exchange Deposits Signal Bullish Sentiment
Blockchain metrics strengthen the optimistic outlook. According to CryptoQuant intelligence, XRP whale transfers to Binance have decreased dramatically to 736 million tokens, plummeting from 2.6 billion registered in early March. This marks the lowest reading in four years.
Reduced exchange deposits from large holders generally indicate diminished selling intentions. Historical patterns show that comparable decreases have preceded supply constraints that catalyzed price appreciation.
Market observer Dom highlighted that despite approximately $35 million worth of XRP being liquidated on Binance during the previous week, market participants continued submitting fresh buy orders to absorb the selling activity. Dom suggested that a breakthrough above $1.47, particularly if Bitcoin demonstrates strength, could spark a substantial rally. High-volume price objectives on his 12-hour analysis chart are positioned near $1.80 and $2.10.
With $XRP‘s apex fast approaching in May, a decisive break of this structure is likely to be around the corner…
Even if we sweep towards the $0.90/$0.70 targets, the macro trajectory is STILL North.
Appreciate the coverage @MoonLamboio
pic.twitter.com/MsPfx8wgF1
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ChartNerd
(@ChartNerdTA) May 7, 2026
Technical analyst ChartNerd (@ChartNerdTA) shared on X that as XRP’s apex formation nears completion in May, “a decisive break of this structure is likely around the corner.” The analyst emphasized that even a temporary dip into the $0.90–$0.70 zone wouldn’t invalidate the broader bullish trend, stating the macro trajectory remains firmly upward.
Exchange-Traded Fund Capital Flows Strengthen Foundation
United States spot XRP exchange-traded funds attracted $81.6 million in net capital inflows throughout April, marking their most robust monthly performance in 2026. May’s initial week contributed an additional $28.17 million. Cumulative net assets across all XRP ETF products currently total $1.43 billion. Traditional finance institution UBS has also allocated capital to the Grayscale XRP ETF.
Rakuten Wallet incorporated XRP support in Japan, broadening the digital asset’s accessibility in one of the cryptocurrency sector’s most substantial retail markets.
XRP is presently exchanging hands near $1.41, with its 24-hour trading range spanning from $1.40 to $1.46.
The post XRP (XRP) Price Analysis: Whale Selling Reaches Multi-Year Low Amid Growing ETF Demand appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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