According to Deep Tide TechFlow, Ripple re-locked 700 million XRP into its custody account on May 1, marking the third consecutive month it has not fully released 1 billion XRP. Currently, Ripple's custody account holds about 38 billion XRP, directly holding 4.5 billion XRP.
The current trading price of XRP is $2.14, below the resistance level of $2.25. Technical analysis shows that the support area between $2.01 and $1.90 coincides with the 0.618 Fibonacci retracement level. Ripple has suspended the minting of the stablecoin RLUSD since April 25, with a total supply of 317 million.
Analysis indicates that if the XRP spot ETF is approved, the price could rise by 49% to $3.40; if not approved, it could fall by 29% to the support level of $1.61.
