XRP prices saw a 2% surge on May 7th fueled by positive US-China trade talks optimism, but the key support at $2.08 remains crucial for sustainable recovery. Analysts highlight the importance of this level in determining if XRP can break past its all-time highs. Here’s why: XRP price has been supported by whale accumulation as large entities have not sold despite a recent drop to around $1.60, suggesting an interest in further gains. This suggests a potential floor for the price, encouraging retail investors to join in. Santiment’s supply distribution metric shows whales holding more XRP than before. For instance, addresses with 1 million to 10 million tokens now hold 9.44% of the total XRP supply. This increase may indicate a strategic buying position by these entities. However, low trading volume at $3.9 billion remains concerning and suggests that traders are waiting for confirmation before committing to buy-ins. XRP price continues to be volatile, with analysts optimistic about potential rebound towards its seven-year highs but cautious about falling below the key support levels.