XRP has broken through the $1.60 resistance level for the first time since early February, reaching approximately $1.64 on September 22. The asset gained roughly 8% over a 24-hour period following a sustained rebound from the $1.25 support zone.
On-chain data provider Santiment recorded 1,917 transactions valued at $100,000 or more during this rally, the strongest high-value transfer activity in approximately four weeks. The platform noted that such transactions reflect significant portfolio adjustments among large holders, though they do not definitively indicate whether whales are accumulating or distributing.
Network expansion metrics showed positive momentum, with 3,647 newly created XRP wallets established during the price rally. Broader activity on the XRP Ledger also intensified, with tokenized assets and RLUSD balances approaching approximately $4.26 billion.
Binance reported a notable uptick in trading engagement, processing an average of approximately 21.7 million XRP tokens in daily deposits through the week ending September 20. This volume represented a 663% increase relative to the exchange's three-month average, though overall holdings remained relatively stable at approximately 2.63 billion tokens, expanding by only 0.34%.
Technical analyst Ali Martinez highlighted a completed inverse head-and-shoulders pattern on the daily timeframe, with the neckline positioned near $1.60. According to his analysis, a confirmed break above this level could validate the pattern and target the $2 price zone, representing an approximate 30% advance from current levels. Previous technical assessments had identified $1.80 as an intermediate objective.
XRP's market capitalization stood at approximately $103.6 billion, with 24-hour trading volume reaching nearly $7.3 billion.
