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XRP rally faces next test at $1.6 after whale accumulation, says analyst

XRP rally faces next test at $1.6 after whale accumulation, says analyst

XRP Ledger logo via Wikimedia Commons (CC BY-SA 4.0)

Demand for US spot XRP ETFs remained strong, with total net inflows exceeding $923 million as of Sept. 18.

By Editorial Team
Edited by Vivian Nguyen

1 min read

In Finance

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XRP has climbed 8% in three days following more than $2 billion in whale accumulation, with the impact of the buying activity now visible in the token’s price, crypto analyst Ali Martinez said in a statement.

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According to Martinez, the token faces limited resistance at current levels based on on-chain data, while the URPD points to a larger concentration of about 2.5 billion XRP at around $1.6. The analyst said the level could become a potential profit-taking zone if the rally continues.

Elsewhere, US spot XRP ETFs continue to attract demand, recording more than $923 million in total net inflows as of Sept. 18, per CoinGlass. Bitwise accounted for the largest share, with about $377 million in net capital.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

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