Over a five-day span, large XRP investors stacked up 470 million tokens valued at $724 million as spot ETFs prolonged their streak of net inflows.
This mix of institutional interest and whale buying places the $1.60 resistance barrier firmly back in the spotlight for XRP’s valuation.
XRP Whale Accumulation Signals Stronger Demand
Figures shared by analyst Ali Martinez indicate that whale holdings climbed from approximately 12.37 billion to 12.80 billion XRP. This accumulation accounts for over 470 million tokens, translating to roughly $724 million based on recent pricing.
BeInCrypto metrics show XRP changing hands near $1.55. The digital asset has bounced back about 28% away from the $1.25 zone, touching a recent local peak close to $1.58.
Such a recovery has unfolded alongside an inverse head-and-shoulders formation visible on the daily timeframe, with its neckline positioned near $1.60.
A validated breakout past this barrier could trigger a measured objective around $2, marking a roughly 30% gain from present levels. Conversely, a rejection might leave XRP vulnerable to initial support at $1.53, followed by $1.50, while a steeper pullback could draw attention to $1.46 and $1.32.
Market technicians have additionally spotted a Relative Strength Index (RSI) configuration that preceded major rallies previously, though validation depends on the indicator moving back above its primary moving average.
Can ETF Demand Help XRP Price Break $1.60?
U.S. spot XRP exchange-traded funds have supplied an additional layer of backing through continuous positive weekly inflows, according to SoSoValue tracking.
These investment vehicles pulled in $75.59 million throughout the week ending September 25, lifting cumulative net inflows to $1.79 billion. Total net assets hovered near $1.77 billion as the funds logged their 11th consecutive week in the green.
That sequence began during the week of July 17 and persisted through September 25, bolstered by substantial contributions during several individual weeks.
Bitwise’s XRP fund has stood out as a primary catalyst for recent market action. On September 18, the asset manager submitted a post-effective amendment concerning its registration statement.
The filing refreshed prospectus disclosures and integrated updated financial statements. Meanwhile, the token repeatedly tested the $1.60 resistance barrier after rebounding from roughly $1.40.
Attention now turns to whether whale buying and institutional inflows will mutually reinforce each other. A definitive push past $1.60 would offer the necessary technical confirmation.