XRP has been on an impressive run of strength this last week, climbing a reliable 10% from approximately $2.09 on May 6 all the way up over $2.40 by May 12, 2025. Market analysts and investors are right to closely monitor this resurgence. During this time, it has led to excitement and speculation over a potential retest of its all-time high. As it stands, XRP trades 41.67% under its last all-time high of $3.40, established in January 2025.
Analyst Bullishness
Michaël van de Poppe, a popular cryptocurrency market analyst, is betting that XRP is on track for a third time to start blasting past its all-time highs. As for his own entry point into XRP, Van de Poppe says he’s already up 50% on XRP. His technical analysis shows an important accumulation block for XRP between $1.5764 and $1.8185. This finding represents a robust undercurrent of support for future price appreciation.
Egrag Crypto has identified $1.83 as a key support level that XRP needs to hold above to keep its bullish momentum going. XForceGlobal manages XRP with more optimism in mind. They see a bullish outlook for the crypto, provided its price remains above the $1.60 bottom established on April 7.
Whale Accumulation
Recent statistics show strong accumulation of XRP by whale wallets. Between early April and May 8, wallets holding between 10 million and 100 million XRP amassed over 880 million XRP. This massive accumulation signals extreme confidence by smart money as whales obviously foresee extreme bullish prospects for XRP.
Compounding the bullish sentiment, a crypto market whale just opened a $12 million USD leveraged long position on XRP. This trade, opened just before May 12, already netted well over $260,000 in all paper profits. Prior to sending XRP into a frenzy, the whale made more than $10 million in unrealized gains. This unexpected fortune was a result of Ethereum’s skyrocketing value in early May. This timeline saw the whale’s combined holdings increase from just over 6.9 billion XRP to about 7.7 billion XRP.
Technical Analysis
In this regard, XRP did very well, skyrocketing from less than $0.50 in November ’04 to just shy of $3.50 by the beginning of 2025. After this surge XRP underwent a market correction. It created a setup of descending highs and ascending lows, indicating coiling momentum inside the shape of a wedge. This positive pattern shows a breakout on the horizon. Advertisement Market analysts, like Michaël van de Poppe, are optimistic that this new market momentum can test its former all-time high.
