Ripple (XRP) traded at $1.53, registering a 3.36% gain alongside a broader crypto market movement that included Bitcoin reclaiming $85,000 as expectations for an October Federal Reserve interest rate hike declined.
Whales Lead Exchange Withdrawals
According to CryptoQuant analyst Amr Taha, whale addresses holding more than 1 million XRP coins have dominated withdrawals on both Binance and Coinbase. On Binance, withdrawals involving over 1 million XRP rose from 45% in mid-August to 60.8% by September 20, while the 100K to 1M XRP category dropped from 30% on September 6 to 23.4% on September 30. On Coinbase, the share of withdrawals in the 1 million XRP category increased from 37% in late August to 48.7% on September 30.
These withdrawals occurred alongside recent developments, including Evernorth receiving shareholder approval for a merger to become a publicly listed firm on NASDAQ, and XRP surpassing 10 million in x402 AI agentic payments.
Open Interest and Technical Indicators
Data from CoinGlass shows that XRP's open interest (OI) grew on major derivatives platforms. On Binance, open interest increased from $553 million on September 29 to $580 million, while on Hyperliquid it rose from $284 million to $314 million. The increase in Binance's open interest reflects a rise in long accounts, with the long/short reading standing at 2.31 and the OI-weighted funding rate reaching 0.01%, the highest reading since September 23.
On the four-hour chart, XRP overcame a sell wall at $1.51 and a falling trendline resistance. The Average Directional Index (ADX) line points north, while the Relative Strength Index (RSI) reading sits at 59. If the uptrend continues, the price could move toward $1.56, though a failure to hold the $1.51 support level could lead to a test of support at $1.48.
