[DigitalToday reporter Jinju Hong (홍진주)] XRP has held support at $1.30 to $1.33 and traded sideways in the mid-$1.30 range for more than two weeks. As large holders continue to accumulate, market attention is focusing on the possibility of a price breakout.

On April 15 local time, blockchain outlet The Crypto Basic reported that XRP has seen relatively limited movement compared with Bitcoin (BTC) and Ethereum (ETH), which have recently risen. It added that XRP has continued to defend support and maintain a trend of holder accumulation.

XRP is trading around $1.35. It fell more than 1 percent over the past 24 hours, and the decline over the past seven days was limited to 1.9 percent. With little price volatility, the recent trend is effectively close to stagnation. In market-cap rankings, it slipped one notch among cryptocurrencies excluding stablecoins after being overtaken by Binance Coin (BNB).

The market is focusing on support rather than declines. The outlet said XRP has been moving sideways for more than two weeks, building momentum for a breakout. It also mentioned that the longer the sideways period, the stronger the breakout could be.

In the short term, the 50-day exponential moving average (EMA) is seen as a key resistance level. XRP rose to around $1.395 on April 7 and April 14 but failed to break above that area. The 50-day EMA is currently formed near $1.38. Observers say that if XRP breaks above it with rising volume, gains could extend toward the next resistance area near $1.46.

Market participation is still not strong. Futures trading volume fell 2.67 percent over the past 24 hours, and spot trading activity dropped 7.38 percent. Open interest (OI) also fell 4.43 percent, showing that buying has eased somewhat in both spot and derivatives markets. Even if the price holds above support, a lack of trading momentum could delay the timing of a breakout.

Even so, large holders continued to accumulate. Recent data show XRP whales bought an additional 20 million XRP over the past week, taking their holdings above 3.7 billion tokens. This suggests accumulation of a long-term holding nature while the price moved in a narrow range.

Exchange inflow and outflow trends also pointed in the same direction. Over the past 24 hours, XRP inflows to exchanges were $130.52 million, while outflows were $131.48 million. Net outflows totaled $966,180. Over a longer period, inflows totaled $685.18 million and outflows $694.11 million, extending a net outflow trend. This can be seen as holders moving tokens from exchanges to personal wallets for long-term holding.

This has clarified the near-term points to watch for XRP. The price is holding above support, and whale accumulation and exchange net outflows continue. By contrast, trading participation in spot and futures markets has weakened. The key variable that will determine the next direction remains whether XRP can break above the 50-day EMA near $1.38 with accompanying volume.