Key Takeaways

• Crypto analyst Ali Martinez identifies a symmetrical triangle pattern with a potential 35% rally to $1.90
• SuperTrend indicator generated its first buy signal on the daily timeframe since January
• Large holders added approximately 360 million XRP tokens within seven days, bringing total whale holdings to roughly 8.8 billion
• SoFi Bank launched XRP deposit services for its 13.7 million customers and $34 billion in managed assets
• Critical resistance level positioned at $1.54 (100-day EMA) with support anchored at $1.41 (50-day EMA)

Ripple’s native token has experienced renewed momentum this week, hovering around the $1.44 mark while challenging near-term resistance zones. The upward movement aligns with multiple technical indicators and blockchain data metrics signaling potential bullish continuation.

Cryptocurrency market analyst Ali Martinez shared comprehensive chart analysis via X this week, stating that XRP “appears to be undergoing a structural trend shift from bearish to bullish.” His examination incorporated price formations, blockchain metrics, and momentum oscillators.

The SuperTrend technical tool has triggered a buy indication on the daily timeframe—marking the first occurrence since the beginning of January. This reversal implies diminishing downward pressure and potential trend change.

Martinez also highlighted a developing symmetrical triangle configuration on the 12-hour chart. This consolidation structure displays converging trendlines with declining peaks and rising troughs, compressing price action into a tightening range. Breakouts from such patterns frequently result in explosive directional moves. Martinez projects a 35% appreciation from current consolidation levels, establishing an upside objective at $1.90. According to his analysis, a daily candle closure above $1.55 would validate the bullish breakout scenario. Conversely, the $1.30 threshold represents the critical invalidation point for the bullish thesis.

Blockchain analytics reinforce the technical outlook. Leveraging Santiment platform data, Martinez observed that whale-sized wallets accumulated approximately 360 million XRP tokens during a single week period. Aggregate whale holdings expanded from around 8.3 billion to 8.8 billion XRP. Historically, large-scale investors tend to build positions during consolidation and accumulation phases.

SoFi Bank Launches XRP Deposit Services for 13.7 Million Customer Base

SoFi Bank revealed plans to integrate XRP deposit functionality for its entire user network. The federally chartered financial institution oversees more than $34 billion in total assets while servicing 13.7 million active customers. XRP now joins Bitcoin, Ethereum, and Solana in the platform’s cryptocurrency offering portfolio.

Ripple acknowledged the development, emphasizing that the integration would facilitate broader adoption and expand the XRP ecosystem’s reach. This announcement follows recent expansions including XRP trading capabilities on WhatsApp via wXRP on Solana, plus a validator governance vote regarding a lending protocol designed to enhance DeFi infrastructure on the Ripple network.

Critical Price Levels Under Observation

Examining the daily chart, XRP currently maintains position above its 50-day exponential moving average at $1.41. The immediate overhead resistance emerges at the 100-day EMA situated at $1.54. Clearing this barrier would establish a pathway toward $1.68, where a long-duration descending trendline converges. The 200-day EMA provides additional resistance at $1.78.

The Relative Strength Index registers approximately 58, while the MACD histogram remains positioned in positive territory above the zero line. The Crypto Fear & Greed Index currently reads 32, representing an uptick from the previous week’s reading of 23.

On Binance exchange, the long-to-short position ratio for XRP stands at 2.27, indicating traders maintain a net long bias with bullish positions outnumbering bearish ones.

The Open Interest-Weighted Funding Rate for perpetual futures contracts recorded 0.0066% on Wednesday, sustaining positive values continuously since April 3.

Russia’s lower house of parliament passed a bill in first reading on Tuesday that would create the country’s core legal framework for digital currency, moving Moscow closer to a system that channels crypto trading through licensed intermediaries under Bank of Russia oversight.

The draft bill No. 1194918-8, titled “On Digital Currency and Digital Rights,” passed its first reading in the State Duma on Tuesday, according to official records.

The bill would allow Russians to buy and sell crypto through approved intermediaries as early as July, while banning unlicensed crypto platforms beginning in July 2027, if the draft becomes law.

The bill is part of a new comprehensive legislative package aimed at restricting crypto trading to regulated platforms in Russia, alongside at least three other related bills introduced. One of them, bill No. 1194929-8, also passed the first reading on Tuesday.

Together, the bills would push Russia’s crypto market toward a licensed, state-supervised structure, though key enforcement pieces are still unresolved.

Key provisions of the bill

Bill 1194918-8 “On Digital Currency and Digital Rights,” would introduce investment limits for retail investors, allowing purchases only of the “most liquid digital currencies,” as defined by the Bank of Russia.

Those assets would have to meet several thresholds, including an average market capitalization of more than 5 trillion rubles ($66.6 billion) over the two years before listing, average daily trading volume of more than 1 trillion rubles ($13.3 billion) over the same period, and a trading history of at least five years.

The legislation would require retail investors to pass a test and would cap purchases through a single intermediary at 300,000 rubles ($4,000) per year.

The bill also allows residents to buy crypto abroad through foreign accounts, provided those transactions are reported to tax authorities.

The legislation also maintains a strict prohibition on crypto payments, a core provision of the crypto law “On Digital Financial Assets,” which took effect in 2021.

Supreme Court says criminal bill is premature

Apart from the two draft bills that passed their first reading, lawmakers have introduced two separate measures establishing liability and criminal penalties for violations of the new rules, including bills No. 1194944-8 and No. 1209607-8.

The latter proposes criminal penalties for unlicensed digital asset services and mandates registration with the Bank of Russia, with fines and prison terms for non-compliance.

But the Supreme Court declined to support that measure in its current form, saying the proposal depends on a broader digital currency framework that has not yet been adopted and therefore appears premature.

“The proposed article is drafted as a blanket provision, the application of which is not possible in isolation from rules directly established by regulatory acts,” the court said in an official review of the bill released last week, adding:

“Meanwhile, the draft federal law ‘On Digital Currency and Digital Rights,’ aimed at regulating issues related to the organization of digital currency circulation, is currently under development. Until the relevant federal law is adopted, the initiative in question appears premature.”

That means Tuesday’s first-reading vote is important not because it advances the base law that other enforcement measures still depend on.

Related: Russia-linked crypto exchange Grinex halts trading after $14M hack

Several local industry participants have repeatedly warned that the proposed legislation could backfire, pushing the sector further underground instead of bringing it out of the grey zone.

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