XRP’s Resistance Vanishes: $2.38 Support Holds as Chart Data Signals $15 Target

• Glassnode’s URPD chart finds little resistance for XRP above $2.38, making it more probable for prices to rise.
• XRP is near $2.50 with more volume, while whales are active and exchange reserves fall, indicating reliable market support.
• Analysts say that breaking out of a long-term triangle pattern supports aiming for $15.

A new chart from Glassnode shows that XRP lacks any major resistance above where it is trading. The UTXO Realized Price Distribution (URPD) chart reveals that not much XRP was bought above $2.38, suggesting this is a major support spot. Currently, XRP is trading near $2.50, showing a good chance for upward movement.

Since major resistance areas are missing, fewer people holding XRP may offload their holdings in the short term. A majority of trading took place at prices below $1.00, which shows how much XRP has advanced past the consolidation period. According to this setup, XRP’s rally might persist as long as it does not go below $2.38.

On-chain data backs the bullish case. Whale Alert reported a significant XRP transaction on May 12 involving 29.53 million XRP, valued at over $73.3 million—moved to Coinbase. The move was made by an unverified wallet, suggesting there could be a sell-off while XRP’s price is rising.

The on-chain data points to this transaction being part of a bigger movement. Also, the XRP Ledger recently showed more large-volume trades in the last few days. While there have been drops in Bitcoin and major cryptocurrencies, XRP has kept its position. During the last 24 hours, it climbed by 6.87% and then settled at around $2.50. 

According to TradingView, the token is trading at $2.5036 after reaching as high as $2.5450. The RSI indicator stands at 64.50, suggesting that buying pressure is high but not excessive. The MACD still shows a bullish crossover, indicating a higher possible move if there is more buying interest.

Triangle Breakout Opens Door to $15 Projection

According to analyst Ali Martinez, XRP could see a big rise to $15 if current technical trends continue as predicted. His forecast is centered on a seven-year symmetrical triangle pattern that started in January 2018, ultimately breaking out with a rally following the U.S. elections in November 2024.

If the governing pattern behind $XRP is this symmetrical triangle, the target could be $15. pic.twitter.com/zFICoLyu2x

— Ali (@ali_charts) May 11, 2025

Martinez notes that the present sideways period for XRP could mean a standard post-breakout pullback. A 522% increase from current levels would bring XRP to $15 if the triangle pattern movements are repeated.

Glassnode’s chart reinforces Martinez’s forecast. With little selling above $2.38, XRP now has a good chance to rise sharply without facing resistance from old buyers. A clear breakout like this backs up the $15 projection.

Institutional Accumulation and Falling Reserves Boost Confidence

Investor behavior also reflects growing confidence. Over 14 billion XRP were taken off Binance. This indicates that whales or large institutional holders chose to hold onto their XRP directly as the price increased. Over the same period, Binance’s exchange reserve dropped, moving from about 3.3 billion XRP to lower than 2.7 billion.

CryptoQuant reveals that after the latest rally, XRP active addresses shot up to above 100,000 but dropped to about 50,000 afterward.  This is because a large number of users are involved with XRP.