XRP ended its short-term decline on September 25 after a sharp selloff, maintaining stability above $2.60 while most cryptocurrencies continued to face weekend pressure. The token has emerged as one of the most closely monitored digital assets, with price action suggesting buyers have established firm support levels despite broader market weakness.
What to Know:
- Large investors purchased 120 million XRP tokens over a three-day period while the price climbed nearly 4%, rejecting a drop below $2.70
- The REX-Osprey XRP ETF launched September 18 with more than $10 million in first-day inflows and $35 million in trading volume
- XRP has gained 355% year-to-date according to Coingecko data, though monthly gains stand at 1.8% following last week's pullback
Institutional Interest and Exchange Activity Signal Growing Momentum
Trading volumes across major exchanges reflect heightened market interest in XRP. Binance reported $1.4 billion in XRP volume over 24 hours, representing a nearly 60% increase, with similar surges occurring on Bybit and Gate.io platforms according to Coinglass data.
The long-to-short ratio on Binance averaged 3-to-1, indicating buyers outnumber sellers by a significant margin. Net inflows across exchanges turned negative in the past 24 hours, though this hasn't deterred large holders from continuing their accumulation. Exchange reserves dropped from 3.6 billion to 2.8 billion XRP between late August and September 18 before rebounding to approximately 3.5 billion tokens.
Technical analysis from the daily chart shows immediate support at $2.60, with resistance appearing at the $3 level. Buyers need to break through $3.20 to maintain the uptrend and exceed September's peak prices. Initial upside targets point to $3.40, with all-time highs near $3.65 following that milestone.
Market analyst Ali noted on X that whales acquired 120 million XRP during a 72-hour window. During this accumulation period, XRP climbed approximately 4% and firmly rejected price levels below $2.70.
Strategic Partnerships and New Financial Products Expand XRP Ecosystem
Ripple has secured multiple partnerships to broaden its market presence. The company integrated Ripple Custody services with BBVA, expanding operations into Spain. A separate agreement with SBI aims to accelerate deployment of the RLUSD stablecoin in Japan.
The REX-Osprey XRP ETF began trading September 18, marking a significant development for institutional access to the token. First-day performance showed more than $10 million in inflows with $35 million worth of shares changing hands. The Chicago Mercantile Exchange announced XRP futures options following its earlier XRP futures milestone, providing additional tools for institutional investors to gain exposure to the digital asset.
These developments occur as buyers defend critical support levels despite recent market volatility. The token trades above $2.60 with buyers targeting $3 as the next psychological threshold. Monthly gains of 1.8% reflect last week's pullback, though the year-to-date performance of 355% demonstrates sustained buyer interest over longer timeframes.
Understanding Key Terms
Exchange reserves refer to the total amount of a cryptocurrency held on trading platforms, with declining reserves typically indicating investors are moving tokens to private wallets for long-term holding. The long-to-short ratio measures the proportion of traders betting on price increases versus decreases, providing insight into market sentiment. Whale activity describes large transactions or accumulation patterns by investors holding substantial amounts of a digital asset, often considered a signal of confidence or strategic positioning.
An exchange-traded fund allows investors to gain exposure to an asset without directly purchasing it, with the REX-Osprey XRP ETF tracking the token's price performance. Futures options give traders the right to buy or sell futures contracts at predetermined prices, adding layers of sophisticated trading strategies for institutional participants.
Closing Thoughts
XRP has stabilized following a sharp selloff, with large investors accumulating 120 million tokens while exchange volumes surge and reserves decline. New ETF products and institutional partnerships position the token for potential moves toward the $3 resistance level and beyond.