XRP whale accumulation has hit a new high for 2026, even as the cryptocurrency faces recent price weakness. On-chain data from Santiment shows that wallets holding at least 1 million XRP have risen to 2,147, an increase of 28 over the past 10 days. This suggests that large investors are accumulating XRP despite its volatility, though transfers between addresses could also affect the figures.
Technical analysts are eyeing potential buy signals on XRP’s 12-hour Binance chart. Jesse Olson, a market analyst, identified a support bounce and an attempt to break a descending trendline, which could indicate easing selling pressure. However, this remains an early signal, and a stronger daily confirmation would be needed to confirm a broader trend reversal.
Elliott Wave analysis by Intuit suggests a potential rally toward $2 if key resistance levels are overcome. The analysis points to a completed corrective B-wave, with bullish divergences across multiple timeframes. Another analyst, Carolina, highlights the possibility of an Elliott Wave 3 advance, with $1.56 as a critical breakout threshold. Fibonacci projections identify $1.8815 and $2.9032 as potential upside targets, though these remain conditional.
The broader technical outlook is mixed. XRP traded around $1.30546 on Bitstamp, gaining about 2.37% in the latest session. While shorter-term moving averages show buying pressure, intermediate and longer-term averages remain less favorable. The Relative Strength Index (RSI) stands at 48.22, indicating neither overbought nor oversold conditions, and the Average Directional Index (ADX) suggests limited trend strength.