XRP Eyes $1.62 Breakout as Whale Activity Stays Stable

Analyst Ali Martinez, also known as Ali Charts, has highlighted that XRP is approaching the peak of a triangle pattern. He suggests that a four-hour close above $1.53 could trigger a move toward $1.62. As of Monday, XRP was trading around $1.51, up 0.8% over 24 hours and 2.9% over seven days, placing it just below Martinez’s key threshold.

XRP has previously struggled to maintain gains above $1.50. In late September, it briefly neared $1.60 before pulling back, with technical analysis identifying $1.57, $1.60 as a significant resistance zone. Martinez’s $1.62 target aligns closely with this resistance, emphasizing the importance of a confirmed close above $1.53 for a potential 7% upside.

One notable aspect of this setup is the lack of significant whale activity. Unlike in September, when large holders accumulated over 1.54 billion XRP, current whale holdings have remained stable. This absence of accumulation does not necessarily indicate a bearish outlook but shifts focus to technical confirmation for the breakout.

Institutional interest in XRP continues to grow, with U.S. XRP ETFs holding over 1 billion XRP as of September 29, valued at approximately $1.68 billion. This institutional demand persists even as XRP hovers near resistance levels.