XRP price forms multiple bullish patterns, will it reclaim $2?

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<a href="https://pricpr.com/xrp-usd/">XRP</a> price forms multiple bullish patterns, will it reclaim $2?

As a researcher tracking XRP, I’ve observed that the price has been stabilizing around a crucial resistance level this week. What’s encouraging is that the price charts are showing several patterns that often signal a potential upward move. Plus, the recent improvements in regulatory clarity and the decreasing amount of XRP available on exchanges are both reinforcing my belief that the price could soon break out and continue rising.

Summary

  • XRP price reclaimed the $1.45 resistance level after the U.S. Senate Banking Committee advanced the CLARITY Act in a 15–9 vote.
  • Whale wallets holding at least 10 million XRP reached an 8-year high, while exchange supply fell to a 7-year low near 1.7 billion tokens.
  • XRP formed a bullish rounded bottom and cup-and-handle pattern on the weekly chart, with a breakout above $2 potentially opening the door toward the $2.80–$3 range.

On May 15th, XRP was trading at around $1.45, according to crypto.news. It briefly reached almost $1.50 earlier in the week. The price has been steadily increasing from a low of $1.20 in February, likely due to improving confidence in the overall crypto market and expectations of clearer regulations in the U.S.

The biggest factor driving interest in XRP this week is the progress of the CLARITY Act, a bill designed to bring clarity to the rules around digital assets.

The U.S. Senate Banking Committee moved forward with a bipartisan bill on May 14th, voting 15 to 9 in favor. If the bill becomes law, it would officially categorize XRP as a digital commodity, which many investors think would encourage more institutions to invest in it.

The market is already responding positively to the bill’s progress. XRP quickly rose above the $1.45 mark after the vote, and traders are now watching for the next vote in the Senate, with a deadline of May 21st.

Meanwhile, data from the XRP ledger shows that large investors are actively buying up more XRP. The number of wallets holding 10 million or more XRP has reached an eight-year high, and these wallets now hold almost 68.5% of all XRP in circulation.

The amount of XRP held on cryptocurrency exchanges is decreasing rapidly, reaching a seven-year low of around 1.7 billion tokens. This decrease in available XRP on exchanges typically means there’s less immediate selling pressure, which can lead to bigger price increases when people start buying.

Looking at the weekly chart, XRP has developed a rounded bottom pattern, often called a ‘cup’ formation. This pattern formed over several months of slow, steady buying after a significant price drop earlier in the year.

The pattern’s key resistance level is around $2, and this also matches a major resistance point shown by the weekly Supertrend indicator on the chart.

As a researcher, I’ve been tracking XRP, and I’m seeing a potential bullish trend reversal forming. Specifically, if the price decisively breaks above $2, that would confirm a breakout from a rounded bottom pattern. This often signals a significant uptrend, and based on the pattern’s characteristics, we could see a rally pushing XRP towards the $2.80 to $3 range.

Positive signs are emerging for buyers. The weekly MACD is showing potential for an upward turn after a few months of decline, and the histogram is displaying increasing green bars, suggesting that selling pressure is weakening.

The market is showing signs of a potential turnaround. A smaller, bullish pattern is developing within a larger, rounded bottom, suggesting a slow but steady upward trend could begin if buying pressure continues at current prices.

Despite recent gains, XRP is running into strong selling pressure around $2, a price level where it has struggled to move higher in the past. The Supertrend indicator confirms this cautious outlook, suggesting a substantial increase in buying activity is needed to confirm a sustained price increase.

In my analysis, if XRP can break back above the $2 level, I anticipate it might try to climb higher, potentially reaching around $2.80 in the next few weeks.

As a crypto investor watching XRP, I’m keeping a close eye on the $1.40-$1.45 level. If XRP can’t hold above that, it could signal trouble for the recent upward trend and potentially push the price back down towards $1.25 – that’s where we saw some buying activity back in March, so it seems like a key support level.

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2026-05-15 16:57