XRP Consolidates Near Support as Whales Stay Sidelined

XRP is currently trading at $1.52, up about 1% in the past 24 hours, holding steady near the $1.50 support level. The token's trading volume surged to approximately $1.51 billion, a 33.70% increase from the previous day. Analysts note that while higher volume suggests growing trader interest, it does not guarantee the direction of the next price move. The support zone between $1.47 and $1.50 remains crucial, with traders watching for a potential breakdown toward $1.20 if this range is breached.

Whale activity has been minimal over the past week, with large wallets holding around 3.9 billion XRP tokens. Analyst Ali Charts highlighted that XRP is consolidating within a triangle pattern, a sign that a significant price move may be imminent. A four-hour candle close above $1.53 could push the price toward $1.62, according to the analysis.

On October 1, Ripple released 1 billion XRP from escrow, worth about $1.49 billion at the time. The company also participated in a Seoul event with four Korean financial institutions, including Woori Bank and KBank. While this event signals institutional interest, it does not confirm any direct XRP purchases or movements by the banks.

Longer-term analysts are eyeing a multi-year descending broadening wedge pattern on XRP's weekly chart, with some predicting a potential move to $10, a nearly 560% gain from current levels. However, derivatives data shows that XRP open interest on Binance has climbed to $516.6 million, still below the $1.3 billion recorded in October 2025. This suggests that leveraged traders have not yet matched last year's activity levels.