Buoyed by Renewed Political Support and Increased Investor Confidence, XRP Price Is Holding Strong Above Key Technical Levels

The latest uptick in XRP price follows a shift in tone from U.S. President Donald Trump, who recently clarified that he has “no intention of firing” Federal Reserve Chair Jerome Powell.

Buoyed by renewed political support and increased investor confidence, XRP is holding strong above key technical levels, reigniting speculation about a macro rally that could see the token challenge—and potentially surpass—the $10 mark in the coming months.

Trump’s Softened Stance on Powell Revives Risk Appetite

The latest uptick in XRP price follows a shift in tone from U.S. President Donald Trump, who recently clarified that he has “no intention of firing” Federal Reserve Chair Jerome Powell. This reversal comes after weeks of criticism directed at Powell for not acting quickly enough to cut interest rates.

Trump reassures markets with his support for Powell, sparking positive sentiment across the broader crypto market.

“Never did. The press runs away with things. No, I have no intention of firing him,” Trump told reporters, easing fears of instability at the helm of the central bank.

Trump’s call for proactive rate cuts sparked a rally across the crypto market, with Bitcoin, Ethereum, and Solana all gaining momentum. Ripple (XRP) joined the shift in tone from the White House has helped stabilize the broader financial traders to re-enter riskier assets, including XRP.

Whale Accumulation Signals Long-Term Confidence

XRP is becoming more powerful because large investors have more faith in it. According to blockchain data, addresses holding between 10 million and 100 million XRP have seen a slight increase, with these tiers now making up 11.83% of the total supply, up from 10.91% at the beginning of the month.

Even larger investors, those holding over 1 billion tokens, have seen a more significant surge, increasing their collective holdings to 39.37% from 37.56% previously.

The sustained rise in these large-scale investors’ indicates institutional traders are optimistic about the long-term value proposition of XRP. They could also be awaiting the verdict in the case between the U.S. Securities and Exchange Commission and Ripple.

Exchange Inflows Plunge, Reducing Sell-Side Pressure

The volume of XRP being moved into exchanges has decreased drastically. From a peak of 2.7 billion tokens at the beginning of the year, the total value of XRP flowing into exchanges has dwindled to just 74 million.

This signals a significant reduction in sell-side pressure on the token. Moreover, Binance, the largest exchange by volume, has seen a distinct dip in volume, with more individuals withdrawing XRP than depositing it.

Technical Indicators Support Bullish Case

XRP is currently testing resistance at around $2.22, which coincides with the 50-day and 100-day Exponential Moving Averages (EMAs). The Relative Strength Index (RSI) is also showing signs of bullish momentum, currently at 56.61.

XRP appears to be exiting the Wyckoff Spring phase, signaling a potential major markup ahead.

In the derivatives market, data from Coinglass shows a 20% spike in open interest over the last 24 hours, reaching $3.89 billion. The long-to-short ratio stands at 1.0243, indicating a slight bias toward long positions as traders anticipate further gains for XRP.

However, analysts warn that a failure to close above these key EMAs could lead to a short-term correction back to $2.00 or even the 200-day EMA at $0.96.

Elliott Wave Patterns Point to $10—And Beyond

Technical analyst Casi Trades has applied Elliott Wave Theory to XRP’s recent price movements, suggesting the asset is on the cusp of entering Wave 3—typically the most explosive phase in a bullish cycle. The analyst highlights $1.90 and $1.55 as key support levels that must hold for the next leg up to begin.

XRP must break above the $2.26 resistance to confirm the next bullish phase.

Using Fibonacci extension levels, Casi predicts XRP could hit $6.50 at the 1.618 extension, $9.50 at the 2.618 level, and potentially exceed $12 if Wave 3 unfolds as expected.

Another analyst, known as “Papa,” believes XRP is forming a similar pattern to the one observed before its meteoric rise in 2017–2018. “XRP is screaming higher,” Papa stated, pointing to a parallel channel structure and a potential breakout above the $3 resistance that could set the stage for a run toward $14.

Mixed On-Chain Signals Caution Bulls

Despite the promising signs, not all indicators are bullish. Network activity on the Ripple Ledger has slowed significantly, with active addresses dropping from over 600,000 in March to just 36,000 in mid-April. This decline hints at reduced