XRP Surges Past $1.60 Milestone Amid Explosive Whale Activity and Network Expansion

Key Highlights

• XRP surged beyond the $1.60 threshold for the first time since early February, touching approximately $1.64.
• Data from Santiment showed 1,917 large-holder transactions exceeding $100,000, marking the strongest activity in about 30 days.
• The XRP Ledger witnessed the creation of 3,647 fresh wallets amid the upward price momentum.
• Binance experienced a 663% surge in XRP deposits compared to its quarterly benchmark, though overall exchange holdings showed minimal variation.
• Technical analyst Ali Martinez noted that a confirmed push above $1.60 may validate an inverse head-and-shoulders formation with a potential target near $2.

XRP has pushed through the $1.60 price level following a sustained rebound from the $1.25 support zone. Recent market data showed the digital asset hovering around $1.64, representing approximately 8% gains across a 24-hour trading window.

XRP Price

During this period, XRP fluctuated within a range of approximately $1.50 to $1.65. This upward movement successfully penetrated a technical resistance zone situated between $1.56 and $1.60 that had previously capped price advances.

Binance has recorded a notable uptick in trading engagement. The platform processed an average of approximately 21.7 million XRP tokens in daily deposits throughout the week concluding September 20.

This volume represented a substantial 663% increase relative to Binance’s three-month average baseline. Despite this spike, the exchange’s total XRP holdings stabilized around 2.63 billion tokens.

Weekly reserve data indicated merely a 0.34% expansion. These figures indicate that elevated deposit flows have not translated into proportional increases in XRP inventory retained on Binance’s platform.

Large-Holder Movements and Network Address Expansion Intensify

Santiment Intelligence posted on X that XRP’s climb above $1.60 coincided with 1,917 transactions valued at a minimum of $100,000 each. This represented the most robust high-value transfer activity observed in approximately four weeks.

Santiment emphasized that these whale-sized transactions don’t necessarily indicate whether major holders are accumulating or distributing. The data does confirm heightened portfolio adjustments among substantial wallet addresses during XRP’s price appreciation.

Network expansion metrics also reflected positive momentum. Santiment documented 3,647 newly established XRP wallets, demonstrating that fresh addresses joined the ecosystem during this rally phase.

Broader asset activity across the XRP Ledger has also intensified. Santiment indicated that tokenized assets combined with RLUSD balances on XRPL recently approached approximately $4.26 billion.

Ripple’s reports indicate roughly $2.4 billion of RLUSD currently circulating. Additionally, Bitwise submitted a revised XRP ETF registration document to the SEC on September 18.

XRP’s total market valuation stood at approximately $103.6 billion, accompanied by 24-hour trading volume reaching nearly $7.3 billion. The price remained close to its intraday peak.

Ali Martinez Monitors $1.60 Breakout Level

Cryptocurrency analyst Ali Martinez stated on X that XRP has climbed 27.6% from $1.25 to $1.58. He suggested this movement appears to have formed the right shoulder component of a daily timeframe inverse head-and-shoulders configuration.

Martinez additionally pointed to more than $2 billion in recent whale-level accumulation. His charting analysis positions the critical neckline boundary around $1.60.

Martinez indicated that a definitive breach above this neckline level could validate the technical pattern. His analysis suggests another approximate 30% advance, which would propel XRP toward the $2 price zone.

Previous technical assessments had identified $1.80 as an intermediate objective once XRP successfully cleared $1.50. The recent advance past $1.60 positions that level between current trading prices and Martinez’s broader technical projection.

According to the most recent data available, XRP maintained its position near $1.64, with the rally accompanied by 1,917 large-scale transactions, 3,647 newly created wallets, and heightened deposit activity on Binance.

The post XRP Surges Past $1.60 Milestone Amid Explosive Whale Activity and Network Expansion appeared first on Blockonomi.