Key Takeaways
- XRP has surged approximately 30% since hitting a February bottom of $1.11, now hovering around $1.41
- Technical analyst MilkybullCrypto projects XRP could reach $12 using a decade-long ascending channel pattern
- Large holder deposits to Binance have plummeted to 736 million XRP, down significantly from March’s 2.6 billion—a four-year low
- Spot XRP ETFs in the United States attracted $81.6 million during April, with an additional $28.17 million flowing in during May’s first week
- Should XRP fall beneath critical support at $1.33, the token could decline toward $0.93, representing roughly a 30% correction
The digital asset has rallied approximately 30% following its February trough around $1.11, prompting market observers to highlight the potential for a significant advance toward $12 based on technical chart formations and evolving blockchain metrics.
Technical strategist MilkybullCrypto presented a monthly price chart illustrating XRP’s movement within an ascending channel structure established since 2014. Current pricing sits close to the channel’s lower boundary, a region spanning $1.30 to $1.40 that has historically served as a foundation for substantial upward movements. According to MilkybullCrypto, XRP is “probably going to $12,” a level corresponding with the channel’s central axis.
$XRP is on a critical level that usually triggers a strong rebound
Probably going to $12 the midpoint value pic.twitter.com/scRH3GqAxs
— MikybullCrypto (@MikybullCrypto) May 7, 2026
The monthly Relative Strength Index for XRP has retreated to the 40–45 territory, a threshold that has traditionally preceded significant upward price action. Market analyst JD similarly identified this region as a potential indicator of a cyclical bottom formation.
JD’s bi-weekly analysis reveals XRP breaking above a multi-year symmetrical triangle formation and subsequently retracing to validate the breakout level. His anticipated price destination ranges between $8 and $14.
Blockchain Metrics Indicate Diminished Distribution Pressure
Blockchain analytics strengthen the optimistic outlook. Information from CryptoQuant reveals that large holder deposits to Binance have declined to 736 million XRP, representing a sharp decrease from the 2.6 billion recorded in early March. This marks the lowest level in four years.
Reduced exchange deposits from major holders generally indicate decreased selling intentions. Past instances of comparable declines have preceded supply constraints that catalyzed price appreciation.
Market observer Dom highlighted that despite $35 million worth of XRP being distributed on Binance throughout the previous seven days, market participants consistently placed fresh buy orders to neutralize this selling pressure. Dom suggested that a breach above $1.47, particularly if accompanied by Bitcoin strength, could initiate a substantial rally. High-volume price objectives on his 12-hour analysis are positioned near $1.80 and $2.10.
With $XRP‘s apex fast approaching in May, a decisive break of this structure is likely to be around the corner…
Even if we sweep towards the $0.90/$0.70 targets, the macro trajectory is STILL North.
Appreciate the coverage @MoonLamboio 🫡 pic.twitter.com/MsPfx8wgF1
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) May 7, 2026
Technical analyst ChartNerd (@ChartNerdTA) shared on X that with XRP’s pattern apex nearing in May, “a decisive break of this structure is likely around the corner.” He observed that even a potential downward sweep into the $0.90–$0.70 zone would not alter the overall bullish outlook, stating the macro direction remains upward.
Exchange-Traded Fund Capital Flows Strengthen Market Foundation
United States spot XRP exchange-traded funds captured $81.6 million in net capital inflows throughout April, marking their most robust monthly performance in 2026. May’s opening week contributed an additional $28.17 million. Combined net asset value across XRP ETF products currently totals $1.43 billion. Traditional finance institution UBS has established a position in the Grayscale XRP ETF.
Japanese platform Rakuten Wallet incorporated XRP support, broadening the digital asset’s accessibility in one of cryptocurrency’s most significant retail environments.
XRP currently trades around $1.41, with 24-hour price action spanning $1.40 to $1.46.
