- XRP traded near major support around $1.41 as analysts monitored consolidation signals.
- Analysts suggested current price action resembles earlier accumulation phases before major rallies.
- XRP wallet growth continued rising despite weak price momentum and months of market volatility.
XRP traded near a major support zone this week as analysts flagged consolidation signals forming after months of volatility. The token traded at $1.41 while market watchers including Crypto Patel and ChartNerd pointed to rising holder activity, weakening bearish momentum, and a possible accumulation phase following XRP’s sharp correction earlier this year.
Analysts Track XRP Consolidation Pattern
According to analyst Crypto Patel, XRP between $1 and $0.70 resembles previous accumulation periods before major rallies. He stated that the market currently shows “quiet accumulation” with limited hype around price action.
Meanwhile, analyst ChartNerd said the divergence between XRP’s network utility and token price should not automatically raise concerns. Instead, he described the current market structure as part of a broader transition period.
The latest chart data showed XRP trading around $1.419. The token remained slightly below the 50-day moving average near $1.44. However, price stayed marginally above the 200-day moving average around the $1.41 zone.
That positioning placed XRP near a critical technical level as traders monitored support stability.
January Crash Shifted Market Structure
XRP experienced a strong rally in early January after briefly climbing above $2.30. However, the move quickly reversed during late January and early February.
The market later dropped sharply toward the $1.20 to $1.30 support region. Trading volume also surged during the decline, reflecting heavy liquidation activity and panic selling across the market.
Since March, XRP has largely traded between $1.35 and $1.50. During that period, the 50-day moving average flattened and started converging with the 200-day moving average.
The narrowing gap between both indicators suggested weaker bearish momentum compared to earlier months.
Holder Growth Continues Despite Price Pressure
While price remained range-bound, XRP wallet growth continued climbing steadily. Total holder count increased from roughly 7.25 million to nearly 7.85 million wallets during the broader consolidation period.
Trading volume also moderated after February’s sharp selloff, indicating more balanced participation across the market.
Current resistance levels remain between $1.50 and $1.55. Meanwhile, support stays near the 200-day moving average around $1.41 and the lower $1.30 region.
