XRP has climbed nearly 4% in the last 24 hours to trade around $1.44, extending its weekly gains as large holders, or whales, have been aggressively accumulating the altcoin. Data from Santiment, shared by analyst Ali Martinez, shows that the tracked whale cohort added roughly 1.54 billion XRP over a 96-hour period, worth close to $2.2 billion. This brings their combined holdings to approximately 9.81 billion XRP, signaling strong conviction among major investors.
The accumulation comes as XRP rebounds from a recent low near $1.24–$1.26, and the token now trades above all four major daily exponential moving averages (EMAs). The 20-day EMA sits near $1.368, while the 200-day EMA is around $1.356, making the $1.35–$1.37 zone a critical support area. A drop below that could expose the 50-day EMA at $1.303 and the 100-day EMA near $1.268.
On the upside, the 20-day Donchian Channel places its upper boundary near $1.496, with XRP currently less than 4% below that level. A daily close above $1.45 would likely target the $1.50 psychological barrier, and a break above that could open the door to the recent spike zone around $1.54–$1.55. However, rejection near the channel high could pull the price back toward $1.37.
Liquidation data from Coinglass shows a large concentration of leveraged positions just above the current price, with clusters around $1.45 and extending to $1.47. Below the market, support clusters are visible at $1.39 and $1.38, with a larger band near $1.36–$1.37. This suggests that a move through $1.45 could trigger a short squeeze, while a failure to hold $1.38 might lead to a test of the $1.36–$1.37 area, where the 20-day and 200-day EMAs converge.
Technical indicators are mixed. The Chaikin Money Flow (CMF) remains slightly negative at around -0.05, indicating that buying pressure has not fully recovered despite the price rebound. A move above zero would confirm a shift in net capital flow. The Aroon indicator shows Aroon Up at 64.3% versus Aroon Down at 50%, favoring the recent recovery but not yet confirming a strong trend.
Beyond whale activity, XRP is benefiting from network developments. The XRP Ledger is moving closer to its next upgrade, with the Batch V1.1 amendment gaining support from 30 of 35 tracked validators, exceeding the 28 votes needed to meet the 80% threshold. The amendment entered its majority countdown on Sept. 15 and could activate around Sept. 29 if support holds. RippleX has indicated that asset managers and commercial projects are preparing to use Batch, with potential applications including delivery-versus-payment and exchange fee transactions.
Institutional demand for US spot XRP exchange-traded funds (ETFs) remains substantial on a cumulative basis. These products have attracted roughly $1.7 billion in cumulative net inflows, with net assets near $1.39 billion as of Sept. 17. This steady inflow adds a layer of institutional support to the retail-driven whale accumulation.
XRP's recent performance has outpaced the broader crypto market, which rose about 1.7% in total capitalization. Bitcoin climbed above $81,800 earlier in the day, gaining over 5% in the past week, while Bitcoin dominance eased slightly as altcoins like XRP rallied. For context, other assets have also seen notable moves: Solana rebounded 6% to $106 after the Fed shock faded, and Ethereum dipped toward $2,400 as whales accumulated during the selloff.
Looking ahead, the key levels to watch are $1.50 on the upside and $1.38 on the downside. A daily close above $1.45 would likely set up a test of the Donchian upper boundary near $1.50, and a break above that could trigger a rally toward the $1.54–$1.55 area. Conversely, a failure to hold $1.38 would expose the $1.36–$1.37 support zone, where the 20-day and 200-day EMAs align with a significant liquidation cluster. A break below that would bring the 50-day EMA near $1.30 back into focus.
While the whale accumulation and network upgrade provide positive catalysts, the CMF's negative reading suggests that buying pressure is not yet fully confirmed. Traders should monitor whether XRP can sustain its position above the EMAs and whether it can break through the $1.50 resistance, which has historically been a tough level to overcome. As always, market conditions can change rapidly, and investors should conduct their own research.
This article is for informational purposes only and does not constitute financial advice.
