Ripple's cross-border token, XRP, has climbed above $1.50, trading around $1.53 according to CoinGecko data. This marks a 53% recovery from its sub-$1 local bottom registered in mid-August, with the asset gaining 8% over the past week.
The broader cryptocurrency market has experienced a strong recovery despite recent headwinds, including the failure of the CLARITY Act and a U.S. interest rate hike. Alongside this general revival, XRP has benefited from sustained institutional interest. Spot XRP ETFs have recorded 10 consecutive weeks of positive net inflows, bringing cumulative net inflows past $1.72 billion.
On-chain activity and whale accumulation have also supported the price movement. Analyst Ali Martinez reported that large holders accumulated roughly 1.54 billion tokens, valued at over $2.2 billion, within a 96-hour window. According to Martinez, on-chain data shows relatively light resistance until the $1.60 level, where approximately 2.5 billion coins previously changed hands. Additional market participants have identified $1.61 as the next notable resistance zone, with higher targets discussed by analysts.
Despite the upward momentum, technical indicators hint at a potential cooling-off period. XRP's Relative Strength Index (RSI) has climbed above 70, placing the asset into overbought territory. Analysts note that an eventual correction remains a possibility following the recent strong gains across the cryptocurrency market.
