Large XRP holders accumulated 470 million tokens worth $724 million in five days, while spot ETFs extended their inflow streak.
The combination of whale demand and institutional buying puts XRP price $1.60 resistance level firmly back in focus.
XRP Whale Accumulation Signals Stronger Demand
On-chain data cited by analyst Ali Martinez shows whale balances rising from approximately 12.37 billion to 12.80 billion XRP. The increase represents more than 470 million tokens, worth roughly $724 million at recent prices.
XRP trades around $1.55, according to BeInCrypto data. The token has rebounded approximately 28% from the $1.25 area. It recently reached a local high near $1.58.
That recovery has developed alongside an inverse head-and-shoulders structure on XRP daily chart. Its neckline sits close to $1.60.
A confirmed move above that level could activate a measured target near $2. That would represent roughly 30% upside from current levels. Conversely, a rejection could expose XRP price to initial support around $1.53, followed by $1.50. A deeper correction could bring $1.46 and $1.32 into focus.
Technical analysts have also identified an RSI setup that preceded strong advances in the past. However, confirmation requires the indicator to reclaim its key moving average.
Can ETF Demand Help XRP Price Break $1.60?
Institutional demand has provided another source of support through United States spot XRP ETFs. SoSoValue data shows continued positive weekly flows.
The products attracted $75.59 million during the week ending September 25. Cumulative net inflows reached $1.79 billion. Total net assets stood near $1.77 billion, while the funds recorded their 11th consecutive week of net inflows.
The streak began with the week of July 17 and continued through September 25. Several individual weeks also delivered substantial contributions.
Bitwise’s XRP ETF has remained a key driver of recent activity. On September 18, the firm filed a post-effective amendment to its registration statement.
The filing updated prospectus disclosures and incorporated recent financial reports. Meanwhile, XRP price repeatedly tested resistance around $1.60 after recovering from approximately $1.40.
The key question now centers on whether whale accumulation and institutional flows can reinforce one another. A sustained break above $1.60 would provide technical confirmation.
Source: BeInCrypto
