XRP Builds Pressure as Holders Accumulate — Is a Break Above $2 Next?

XRP is showing signs of building upward momentum, potentially breaking out from a bullish symmetrical triangle pattern. On-chain data supports this outlook, as the HODLer Net Position Change indicates consistent accumulation by long-term holders, suggesting conviction and reduced exchange supply. Furthermore, the Spent Output Profit Ratio (SOPR) has moved above 1.0, signaling that investors are now transacting at profit levels rather than capitulating at a loss, which boosts confidence.

Technically, a sustained move above $1.70 is required for confirmation of the breakout, which could potentially lead to a 33% rally. Early momentum would be signaled by a move past $1.58. However, resistance exists between $1.76 and $1.78 due to supply concentration where many investors previously accumulated. If bullish momentum fails, a rejection could send XRP below the $1.47 support level, invalidating the immediate bullish structure.

(Source：BeInCrypto)