XRP price remains stable despite whales accumulating 70 million tokens, but the asset could see a 12% rally if it holds above $1.08 and breaks the $1.12 resistance level.
It's been eight trading days, and the XRP price continues to trade sideways. Amid this, crypto whales show strong confidence in the asset by adding millions of tokens, signaling accumulation.
Today, on July 16, 2026, prominent crypto expert Ali shared a post on X, revealing that crypto whales accumulated a massive 70 million XRP tokens over the past week. Despite the whale accumulation, XRP's price remained largely unchanged.
At press time, XRP was down over 1.30% in the past 24 hours and was trading at the $1.09 level. Alongside the price, the asset's trading volume also declined by over 13% to $1.08 billion, indicating a lack of market participants.
Falling trading volume alongside the price suggests weakening market participation in XRP's current trend.
Notably, derivatives data provides additional insight into trader positioning.
The derivative platform CoinGlass hints that there is a strong bullish bias among traders on an intraday level. The latest XRP Binance Long/Short Ratio reads 2.8685, above the key threshold of 1, indicating strong bullish sentiment among traders. This dataset shows that for every 2.8685 long positions, bears have built 1 short position.
Meanwhile, XRP OI-weighted funding rate remains positive and stands at +0.0064%, indicating traders continue to hold a bullish view despite ongoing market uncertainty.
Apart from traders, investors also appear to have a bullish view, as recorded on the XRP spot inflow/outflow metric. Data shows that over $9 million worth of XRP has been moved out of the exchanges in the past 48 hours, indicating potential accumulation.
Taken together, derivatives and on-chain exchange flow data point to improving bullish sentiment. Now the question is whether XRP price will maintain the sideways momentum or if a jump is likely in the coming days.
According to the TradingView daily chart, XRP's short-term bias appears bullish as price continues to trade above the key support level of $1.08, a level it has been holding since June 4, 2026. In fact, the asset has recently broken out of a descending trendline that had been in place since July 4, 2026.
Based on the current price action, if the XRP price remains above the key support level of $1.08 and clears the local resistance at $1.12, it could open the door for upward momentum. If this happens, the asset could see a possible price jump of 12% and may reach the $1.26 level in the coming days.
However, a price reversal or downward momentum could also be possible if the price falls below the $1.08 level. In that case, XRP could open the door to the next support level, which stands near $1.03.
So far, the technical indicator Average Directional Index (ADX) reads 13.02, below a community watched threshold of 25, indicating XRP has weak trend strength. This indicates that the asset lacks bullish momentum and is likely to remain range-bound in the near term.
Traders typically wait for the ADX reading to cross 25 before confirming that a new trend has started.
Apart from this, the asset’s broader sentiment remains bearish, as price continues to trade below the 200-day Exponential Moving Average (EMA).
No comments yet
Be the first to share your take when accounts launch.
