Key Insights
- On September 30, transactions exceeding 1 million tokens by XRP whales made up 60.8% of the total XRP outflow value on Binance.
- As derivatives traders expanded their positions near the $1.50 threshold, XRP open interest climbed on both Binance and Hyperliquid.
- Analyst Ali Martinez points to $3.66 as the monthly resistance level, noting a conditional pattern target close to $31.87 should a breakout be confirmed.
On October 2, XRP hovered around the $1.50 mark as exchange withdrawals by large holders and derivatives trading activity both ticked upward.
Following a close near $1.49 on September 30, the token briefly climbed past $1.50 during the trading session. Market figures indicated XRP tested the $1.55 level intraday prior to pulling back slightly from those peaks.
Concurrently, figures from CryptoQuant revealed that transfers surpassing 1 million XRP emerged as the primary segment of exchange outflows across both Coinbase and Binance.
XRP Price Prediction: $3.66 Breakout Puts $31.87 in Focus
Ali Charts noted that the XRP price is developing an ascending triangle on the monthly chart, with overhead resistance situated close to $3.66. This formation has taken shape following a multi-year period where XRP traded at lower levels before climbing toward the upper boundary.
A monthly close above $3.66 would validate the breakout according to the analyst’s framework. The pattern’s projected objective rests near $31.87, which is substantially higher than the current value of XRP.
The monthly price structure of XRP also displays an upward-slanting trendline originating from the lower baseline through the recovery phase spanning 2022 to 2024. Having pulled back from territory above $3, the asset currently changes hands near $1.53.
Analyst Maps XRP Crypto Wave 3 Targets
Dark Defender presented an alternative trajectory for XRP utilizing Fibonacci extension levels and Elliott Wave theory. This configuration maps the initial wave of XRP from $0.98 to $1.70, succeeded by a corrective Wave 2.
Wave 3 is designated as the subsequent phase, featuring various Fibonacci markers that signal potential price zones. The outlined chart specifies $1.88 at the 161.8% extension, $2.90 at the 200% level, $4.10 at 261.8%, $7.08 at 361.8%, $10.11 at 427.2%, and $18.22 at the 361.8% extension.
Within this arrangement, the $4.10 mark sits above the prevailing market price while remaining under the $7.08 and $10.11 extension thresholds. The loftiest designated marker, $18.22, is positioned below the $31.87 monthly chart objective highlighted by Ali Charts.
XRP Clears $1.45 Resistance
XRP has successfully advanced past the $1.45 zone, a previous sell barrier that coincided with a four-hour descending trendline. This progression has pushed the price toward the $1.56 vicinity, where sustained buying pressure could test additional liquidity.
Speculative engagement is likewise on the rise, according to market metrics. XRP open interest on Binance escalated from $553 million on September 29 to roughly $580 million, whereas Hyperliquid open interest climbed from $284 million to $314 million. Furthermore, Binance reported a long-to-short account ratio of 2.31 alongside an open-interest-weighted funding rate of 0.01%.
The escalation in whale-driven withdrawals has paralleled this price action. Outflows originating from addresses holding in excess of 1 million XRP represented 60.8% of Binance withdrawals on September 20, marking an increase from 45% in mid-August. On Coinbase, that exact cohort accounted for 48.7% on September 30, compared to 37% during late August.
Several technical thresholds now lie between the current price of XRP and its broader objectives. The primary level is $1.51, which must be maintained as a support floor following the breakout. A push toward $1.56 would bring XRP nearer to the subsequent resistance band.
This article is for informational purposes only and does not constitute financial or investment advice. Technical targets, analyst projections and derivatives indicators do not guarantee future price performance.