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- XRP approaches the $1.00 lifeline support amid a predominantly weak technical outlook.
- XRP whales continue to increase their holdings despite the token’s persistent sell-off.
- XRP’s technical structure remains weak, with strong supply zones and deteriorating momentum indicators.
Ripple (XRP) remains pressured on Friday, trading around $1.03 at the time of writing. The token appears to hold this current level as support but lacks a catalyst to sustain a knee-jerk rebound toward the next key resistance at $1.10.
XRP whales increasing holdings
Whale accumulation on the XRP Ledger (XRPL) is accelerating, with the number of wallets holding between 100 million and 1 billion XRP rising sharply to represent 11.79%% of the circulating supply as of Friday, up from 11.65% the day before.
Investors with between 10,000 and 100,000 XRP are also stacking the token despite the ongoing selling. According to Santiment, this cohort of whales holds 11.86% of the circulating supply so far on Friday. Continued risk-on behavior could drive increased demand, effectively offsetting selling pressure and supporting a sustained market recovery.
Meanwhile, risk appetite has improved but only marginally, with sentiment currently in the Fear territory at 29, up from 25 in the Extreme Fear territory on Thursday, according to the Fear & Greed Index. If sustained, strong sentiment would mean risk assets are attractive to investors, thus raising the odds of a sustained recovery.
Technical analysis: XRP retains a broad bearish outlook
XRP trades at $1.03, keeping a clear bearish near-term bias as price holds beneath the downward resistance trendline at $1.06 and all key Exponential Moving Averages (EMAs). The 50-day EMA at $1.11, clustered with the SuperTrend line at $1.11, reinforces the notion of overhead supply, while the 100-day and 200-day EMAs at $1.19 and $1.39, respectively, frame a broader downtrend.
Momentum remains weak, with the Relative Strength Index (RSI) hovering near 37 and the Moving Average Convergence Divergence (MACD) in negative territory and below its signal line, suggesting sellers retain control.
Initial resistance aligns at the former break area of the descending trendline around $1.06, followed by a dense technical ceiling around the 50-day EMA and the SuperTrend barrier at $1.11. Above that, the 100-day EMA at $1.19 is the next hurdle before the longer-term bearish structure defined by the 200-day EMA at $1.39 comes into play. Further declines would leave XRP searching for fresh demand zones at $1.00, unless buyers first reclaim the $1.06 region to ease immediate downside pressure.
