XRP Price: Whales Are Stacking XRP at Levels Not Seen Since 2018 — So Why Is the Price Stuck?

TLDR

• XRP whale wallets now hold 45.8 billion tokens — the highest since May 2018
• Those holdings represent 68.5% of the total XRP supply, worth over $68.5 billion
• U.S. spot XRP ETFs hold just $1.25 billion in assets, with flows flat since early 2026
• XRP has traded in a $1.30–$1.60 range throughout the first half of 2026
• Options markets on Deribit price only a 2% chance of XRP clearing $2 by end of May

XRP whale wallets have reached their highest accumulation level in eight years, but price action has yet to follow. On-chain data from Santiment shows wallets holding at least 10 million XRP now collectively control 45.83 billion tokens — roughly 68.5% of the circulating supply. Analyst Chad Steingraber flagged this on X as “an 8-year high last seen in May 2018.”

At current prices, that whale-held supply is worth over $68.5 billion. In contrast, U.S. spot XRP ETFs held just $1.25 billion in net assets at the time of writing.

Santiment data also showed a separate spike in network activity. When XRP briefly crossed $1.54 — its highest level in two months — active addresses hit 48,453, the most since March 30, and new network addresses reached 3,317, the highest since March 19. Santiment noted that while some of this activity reflects price-driven FOMO, rising on-chain usage is generally seen as a positive sign for longer-term price support.

ETF Flows Tell a Different Story

The whale accumulation trend accelerated in late 2025, coinciding with strong ETF inflows after spot XRP ETF products launched in November 2025. But that demand faded heading into the Christmas holiday period and has remained flat in 2026.

ETF data from SoSo Value showed whale on-chain demand has been similarly flat — hovering around 68% of supply for several months. Whale Insider reported on X that ETF clients added $10.87 million worth of XRP, bringing total ETF-held net assets to $1.18 billion at the time of that report.

XRP has stayed range-bound between $1.30 and $1.60 since the second quarter began. At press time, the token was trading at approximately $1.445, down 1.96% in the last 24 hours.

Technical Levels Traders Are Watching

Analyst ChartNerdTA has identified a long-term cup-and-handle pattern on the XRP chart spanning nearly eight years. Fibonacci extension modeling places a potential long-term target above $8 if a confirmed breakout occurs, though no breakout has been confirmed.

Short-term, XRP is holding above the EMA50 on the daily timeframe while testing resistance near $1.50. One analysis noted the price has moved from a descending channel to a rising broadening wedge structure.

Key price levels being tracked include support around $0.89, mid-range accumulation between $1.40 and $1.50, resistance at $1.60–$1.70, and a long-term extension target above $8 on a confirmed breakout.

Options traders on Deribit are pricing just a 2% probability that XRP clears $2 by the end of May.

XRP was trading at approximately $1.445 at the time of writing, down 1.96% in the past 24 hours.

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