XRP Defies Macro Headwinds with 6-Month Bullish Cost Basis—But Momentum Falters

While traditional assets flinch at Fed whispers, XRP’s cost basis stays stubbornly green—proof that crypto marches to its own drum (or gambles recklessly, depending who you ask).

Key signals show slowing upside traction though—because even the most bullish rallies need to catch their breath.

Meanwhile, Wall Street still can’t decide if blockchain is the future or a spreadsheet for anarchists.

Recent market and on-chain developments suggest underlying accumulation, even in the face of neutral to bearish momentum indicators. On May 7, crypto.news reported that over 300,000 addresses now hold 10,000 XRP or more, a record high. 

According to analysts, this indicates continuous institutional accumulation, which is likely due to speculation regarding a spot XRP exchange-traded fund. In addition, XRP’s current sideways price action is consistent with time and volume-weighted buying strategies used by institutional players to avoid price disruption.

On the macro side, potential tailwinds, such as improving US–China trade relations and expected monetary easing, could support a broader crypto market rebound. Given its impressive Q1 results, buzz around ETFs, and renewed interest in the wake of Ripple’s recent $50 million settlement with the Securities and Exchange Commission, XRP might benefit disproportionately. 

If institutional accumulation persists and XRP holds support close to its cost basis, a breakout above the $2.20–$2.25 resistance could indicate fresh bullish momentum. Weakening RSI and MACD divergence, along with a clear decline below the $2.14 mark, its mid-term cost basis, could lead to capitulation, especially if the overall crypto market sentiment worsens.