XRP (XRP) Eyes $5.40 Rally as Veteran Trader Reveals Bullish Chart Pattern

Key Takeaways

• Veteran trader Peter Brandt identifies a long-term chart pattern suggesting XRP could surge to $5.40, potentially reaching that target within the next year.
• The token is currently changing hands around $1.44, marking a nearly 4% gain in the last 24 hours and more than 8% increase over three days.
• Large holders accumulated approximately 1.54 billion XRP tokens valued at $2.2 billion during a 96-hour period, based on Santiment analytics.
• The XRP Ledger’s Batch V1.1 protocol enhancement has secured approval from 30 out of 35 validators and is expected to go live around September 29.
• US-based spot XRP exchange-traded funds have recorded approximately $1.7 billion in aggregate net inflows.

XRP is currently hovering around $1.44 as of September 21, registering a gain of nearly 4% during the previous 24-hour period. The digital asset has posted gains for seven consecutive trading sessions.

This upward momentum coincides with Bitcoin’s climb past $81,800, which marked a more than 5% weekly advance. The overall cryptocurrency market capitalization expanded by approximately 1.7% during the same timeframe.

XRP has demonstrated stronger performance compared to the broader digital asset sector this week. Significant wallet holders initiated accumulation following the token’s recovery from the $1.24 to $1.26 support zone.

Analytics from Santiment reveal that whale addresses acquired roughly 1.54 billion XRP during a 96-hour window. These tokens carried a combined value approaching $2.2 billion at the moment of acquisition.

This purchasing activity pushed the monitored whale cohort’s aggregate holdings to approximately 9.81 billion XRP.

Market analyst Ali Martinez, known on X as Ali Charts, highlighted this whale behavior in a recent social media update. He noted that XRP rallied 8.22% across three days following the $2 billion-plus buying spree, and that blockchain metrics indicate minimal resistance until the $1.60 level, where approximately 2.5 billion XRP previously traded hands. Martinez emphasized that $1.60 represents the next significant level he’s monitoring for potential selling pressure.

CryptoQuant metrics also captured roughly 1.6 billion XRP moving onto Binance during the last 30 days. This represents the largest volume since March.

Protocol Enhancement Nears Activation

The XRP Ledger is approaching its next significant protocol update. Network validators are consolidating support for the Batch V1.1 enhancement.

The proposal has secured endorsement from 30 out of 35 monitored validators. This surpasses the 28 affirmative votes required to reach the network’s 80% approval benchmark.

The amendment initiated its two-week countdown phase on September 15. Activation is projected around September 29 if validator support remains stable.

According to RippleX, institutional asset managers and commercial enterprises are preparing to integrate Batch functionality once it becomes operational. The specific organizations involved have not been publicly disclosed.

Spot XRP exchange-traded funds in the United States continue demonstrating strong demand. These investment vehicles have accumulated roughly $1.7 billion in cumulative net capital inflows.

Total net assets under management in these ETFs reached approximately $1.39 billion as of September 17.

Critical Technical Levels

XRP is currently positioned above all four primary daily exponential moving averages. The 20-day EMA is situated near $1.368, in close proximity to the 200-day EMA at $1.356.

The 50-day EMA is positioned near $1.303, while the 100-day EMA rests around $1.268. A decline beneath $1.35 would bring these support levels back into consideration.

On the Binance platform, liquidation analytics reveal concentrations of leveraged trading positions near $1.45 and $1.47. On the downside, similar clusters are positioned around $1.38 and within the $1.36 to $1.37 range.

A daily closing price above $1.45 would bring the Donchian Channel upper boundary near $1.50 into focus. Breaking through that threshold could establish a trajectory toward $1.54 to $1.55.