Large-scale XRP holders accumulated over 470 million tokens worth approximately $724 million within five days, pushing total whale balances from 12.37 billion to 12.80 billion XRP. The buying surge coincides with sustained institutional interest as U.S. spot XRP ETFs extended their net inflow streak to 11 consecutive weeks.
Technical Setup Signals Potential Test of $2 Target
XRP currently trades near $1.55, reflecting a 28% recovery from its recent low around $1.25 after hitting a local peak of $1.58. According to on-chain data highlighted by analyst Ali Martinez, the price action has formed an inverse head-and-shoulders structure on the daily chart with a key resistance neckline at $1.60.
A confirmed daily close above the $1.60 threshold would activate a technical target near $2, representing an upside potential of approximately 30%. Conversely, if the token fails to clear resistance, immediate support rests at $1.53 and $1.50, with lower downside targets at $1.46 and $1.32. Analysts are also monitoring an Relative Strength Index (RSI) setup that requires reclaiming its key moving average to confirm prior historical rally patterns. The recent whale activity expands on trends seen when XRP whales accumulated $724M in tokens.
Institutional ETF Inflows Reach 11 Consecutive Weeks
Institutional demand through U.S. spot XRP ETFs has offered sustained support alongside whale buying. SoSoValue data shows that spot products recorded $75.59 million in weekly net inflows for the week ending September 25, bringing total cumulative net inflows to $1.79 billion.
Total net assets held across the ETFs reached $1.77 billion, extending an unbroken weekly inflow streak that originally started the week of July 17. Issuer activity also remains active; on September 18, Bitwise submitted a post-effective amendment to its registration statement to update disclosures and incorporate recent financial statements. This sustained demand aligns with broader trends where US crypto ETFs pull in billions.
Key Takeaways
- Whale Accumulation: Large wallets purchased 470 million XRP ($724 million) over five days, increasing whale balances to 12.80 billion XRP.
- Sustained ETF Demand: U.S. spot XRP ETFs recorded $75.59 million in net inflows for the week ending September 25, continuing an 11-week streak.
- Critical Price Levels: A breakout above $1.60 targets $2, while rejection exposes downside support between $1.53 and $1.32.
Why It Matters
The simultaneous surge in whale accumulation and eleven straight weeks of spot ETF inflows demonstrates strong conviction from both large private holders and institutional investors. Flipping the $1.60 technical resistance level into support would confirm the inverse head-and-shoulders pattern, potentially opening the door to a macro rally toward $2. However, if heavy overhead supply prevents a breakout despite strong inflows, XRP risks consolidating back toward lower support levels around $1.50.
