Did 4,300 New Wallets Just Flash XRP’s Bottom Signal?

In spite of the rather dull price movement of XRP, the underlying blockchain has freshly recorded the fourth best day in terms of growth. Santiment’s latest on-chain data reveals an addition of 4,300 new crypto wallets on the XRP Ledger on May 20, 2026 - a move that historically preceded a double-digit rebound weeks later.

Naturally, the chain’s growth is usually considered a strong signal of an incoming price reversal. Now trading under a price ceiling of $1.50, Ripple’s native XRP coin slumped by more than 40% since January highs, putting many investors on alert.

Last time a similar instance occurred on March 19, 2026, when XRP’s chain registered a whopping 12,055 new crypto wallet addresses in under 24 hours. At the same time, the price couldn’t restore the $1.50 psychological threshold, topping at $1.45 after a soft bounce.

Then, the big-time crypto investors, popularly referred to as crypto whales, haven’t been able to push through the same tight range XRP’s price is stuck in now. DailyCoin’s research team dug into the real-time technical indicators on multiple time-frames to see if this case is any different.

With the price trading five cents below the lowest-tier Bollinger Band (BOLL) of $1.30, largest crypto investors are not convinced of a bottom yet. The whales have been shifting between neutral to slightly-bearish sentiment for consecutive days, judging from the figures presented by the Chaikin Money Flow (CMF), which have plunged considerably on Monday.

Notably, XRP’s price is also currently positioned almost exactly at the double EMA (light green), a key trend-line that has historically stabilized the OG altcoins price numerous times. But the True Strength Index provides us with another concerning tell: the bears could orchestrate a comeback to push down XRP below $1.30, as evident in the gathered strength below zero.

For any XRP rebound attempt to matter in the longer perspective, the technical setup points to $1.52 as a key resistance area that holders should watch out for. Conversely, if the $1.30 support box doesn’t hold for XRP, the next major support destination lies sub-$1, according to Ali Martinez. The seasoned analyst pointed to $0.75 as an ‘attractive accumulation zone’.

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