XRP reclaims $1.60 as whales add $2.2 billion in four days

XRP, the digital asset established by Ripple Labs for global payments, rallied sharply to reclaim the $1.60 level, drawing renewed interest from traders and on-chain observers alike. After opening near $1.58 on September 23, XRP touched $1.6060 before cooling off toward $1.50, a zone that remains an important short-term reference for market participants. XRP recovers from September lows The recent recovery marks a significant turnaround from the pullback seen earlier in September, when XRP dipped into the $1.25-$1.30 range. The token surged 7.69% on September 18 and advanced another 8.90% by September 21, positioning the daily outlook in bullish territory despite a pause on September 22 that saw price consolidation. Crypto trader @cryptoWZRD_ flagged a bullish daily close near $1.53 and named this level as immediate resistance. This area serves as the technical focus, as sustained price action above $1.53 could pave the way for further gains, particularly with the overall crypto market led by Bitcoin showing strength. XRP’s technical structure above $1.53 remains constructive, with upcoming moves in the $1.50-$1.60 range likely to clarify whether the recovery can gather broader momentum. A clear breakout above $1.60 would put higher resistance levels in view. However, if the token fails to hold these gains, analysts warn of a potential return to recently established support zones. On-chain: Whale accumulation intensifies On-chain analytics firm Santiment reported that large XRP holders accumulated 1.54 billion tokens over a 96-hour span, totaling approximately $2.2 billion in value at the time of the purchases. The combined whale wallets increased from about 8.1 billion XRP to 9.7 billion XRP as accumulation intensified. The surge in holdings was accompanied by an 8.22% rise in the XRP price over three days, according to data shared by Ali Charts. While such accumulation often reflects increased confidence among major players, analysts caution that it does not constitute a guarantee of future price increases. Tracking changes among large wallets is valuable, but these movements can represent shifting liquidity or portfolio strategy rather than definitive directional bets. Analysts emphasize that the true market impact depends on whether these accumulations will remain in place or be sold into subsequent rallies. Mini dictionary: Santiment, a blockchain analytics platform, tracks and analyzes on-chain activity across cryptocurrencies to provide actionable data for traders and investors. $1.60 resistance and key price clusters Glassnode data focused market attention on the $1.60 resistance, showing that about 2.5 billion XRP previously changed hands around this area. This cluster may influence price action, as holders consider taking profits or repositioning. Supporting levels have been identified at $1.36-$1.39, with deeper demand zones at $1.27-$1.30 and $1.24-$1.26. A sustained move above $1.60 would be required for continued upward momentum, while a reversal could trigger tests of these support areas.