XRP Price Consolidating Around Key Resistance
XRP looks strong as it trades within an ascending triangle pattern—usually a sign for bullish breakouts. The digital asset price surged from $1.05, on June 6, to $1.29, at a local high, on June 15, and is now consolidating around the $1.23 resistance level. XRP has tested the $1.23 resistance on 2 occasions, but has not achieved a breakout as retail traders have taken profits from the price surge.
Despite this, the data shows that larger investors have kept their position on XRP. This creates the potential for a larger price move on XRP in the coming weeks.
Whale Accumulation Hits 1.53 Billion XRP in 6 Months
XRP whales have been increasing their position on XRP for the past 6 months. June 2026 on-chain data shows that there are now at least 1 million XRP in 1.53 Billion increasing wallets.
At present, whale wallets dominate, controlling about 74.1% of circulating supply of XRP. XRP reserves on a crypto exchange have decreased to 2.69 billion, meaning XRP are being withdrawn for long term storage rather than for sale in the market.
Lower exchange reserves generally diminish selling pressure and foster price stability. The large holders’ continuous accumulation suggests confidence in XRP. Since these holders are unlikely to panic sell when the market is volatile, the downside risks diminish.
Institutional Interest Grows as XRP ETF Sees Inflows
XRP is increasingly gaining the attention of institutions. In the past, ETF flow data showed that spot XRP exchange-traded funds experienced three days of positive inflows, with trading resuming after June 12.
On June 16, XRP ETFs received a new investment of $5.30 million, which was the highest positive inflow of the last week. The total three-day positive inflow was close to $10 million.
Much of the new investment came from the Franklin Templeton XRP ETF, which was the best-performing ETF of the previous week’s inflows. The continued participation of institutions is generally thought to be a good sign as confidence of professional investors and asset managers is increasing.
Ascending Triangle Pattern Is Interpreted As Positive
XRP’s price behavior is currently viewed as a positive sign from a technical perspective. In this case, the ascending triangle pattern is formed when an asset makes higher lows and is repeatedly tests the $1.23 resistance area.
To confirm a breakout, three daily closes are required above this resistance area. If that is accomplished, the pattern shows a potential price movement of 17% toward the $1.45 price area.
Momentum indicators are giving indecisive results. The MACD histogram is still bullish, displaying green bars. The Relative Strength Index (RSI) is at 45, indicating that the buying pressure is still weak, and the breakout may need more demand to sustain.
Growing Market Confidence Shown by Rising Leverage Ratio
Further support for a bullish trend is in the data for the derivatives market. XRP’s Estimated Leverage Ratio is the highest it has been since January 2026, indicating that more traders are confident in the continuation of the recent uptrend.
In addition, the weighted funding rate increased to the highest value it has been in the last two weeks, at 0.0068%. Generally, positive funding rates show an increased demand for long traders.
A higher leverage ratio tends to show a greater amount of risk. Although a short liquidation could create a breakout upward, a long liquidation could create selling pressure. Because of this, it is important to keep an eye on the risk as the price of XRP approaches the resistance zone.
