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

Key Highlights

• XRP surpassed $1.60 for the first time since early February, touching approximately $1.64.
• Santiment tracked 1,917 large-scale transactions exceeding $100,000, marking a monthly peak.
• The XRP Ledger saw 3,647 fresh wallet addresses created during this price surge.
• Binance recorded a 663% spike in XRP deposits compared to quarterly averages, though total reserves remained stable.
• Technical analyst Ali Martinez noted that a sustained break above $1.60 may validate an inverse head-and-shoulders formation with a $2 price objective.

XRP has pushed beyond the $1.60 threshold following a sustained recovery from support levels around $1.25. Current trading data shows the digital asset hovering near $1.64, representing an approximate 8% gain over the past 24-hour period.

Price action saw XRP oscillating within a range of approximately $1.50 to $1.65 throughout this timeframe. The upward movement successfully penetrated a key technical zone between $1.56 and $1.60 that had previously served as a barrier to further gains.

Binance exchange activity has experienced a notable uptick. Data reveals that average daily XRP deposits reached approximately 21.7 million tokens during the seven-day period concluding September 20.

This represents a substantial 663% increase over Binance’s three-month baseline figures. Despite this surge, total XRP reserves held on the platform remained relatively stable at around 2.63 billion tokens.

Weekly reserve levels grew by a modest 0.34%. This data indicates that while deposit activity has intensified, there hasn’t been a proportional accumulation of XRP holdings on the Binance platform.

Large Holder Activity and Network Expansion Intensify

Santiment Intelligence reported via X that XRP’s push above $1.60 coincided with 1,917 high-value transactions valued at a minimum of $100,000 each. This marked the most robust large-transaction activity observed in approximately 30 days.

Santiment clarified that while whale transaction data doesn’t reveal directional intent—whether major holders are accumulating or distributing—it does demonstrate heightened repositioning activity among large-wallet participants during the price advance.

Network expansion metrics also showed positive movement throughout the rally. Santiment documented 3,647 newly established XRP wallet addresses, indicating fresh participants joining the network during this upward price action.

Broader asset activity on the XRP Ledger has similarly expanded. Santiment noted that combined tokenized assets and RLUSD holdings on the XRPL recently approached $4.26 billion.

Ripple’s official figures show approximately $2.4 billion worth of RLUSD currently in circulation. Additionally, Bitwise submitted an amended XRP ETF registration document to the SEC on September 18.

XRP’s total market capitalization stood at roughly $103.6 billion, with 24-hour trading volume measuring near $7.3 billion. The token was trading close to its intraday peak.

Technical Analyst Monitors $1.60 Breakout Level

Cryptocurrency technical analyst Ali Martinez shared on X that XRP has generated a 27.6% gain from $1.25 to $1.58. According to his assessment, this movement appears to have formed the right shoulder of a daily timeframe inverse head-and-shoulders chart pattern.

Martinez also drew attention to over $2 billion worth of recent accumulation by large holders. His technical chart identifies the critical neckline resistance at approximately $1.60.

Should XRP achieve a definitive break above this neckline level, Martinez suggests the pattern would be confirmed. His technical framework projects an additional 30% upside move, which would propel XRP toward the $2 price level.

Previous technical assessments had pinpointed $1.80 as an intermediate resistance zone following XRP’s clearance of $1.50. The current advance beyond $1.60 positions that level between present prices and Martinez’s broader technical projection.

Based on the most recent data available, XRP continued trading around $1.64, accompanied by 1,917 large-value transactions, 3,647 newly created wallet addresses, and heightened deposit activity on Binance throughout the rally.