XRP Holds Steady Near $1.50 Amid Surge in Trading Volume

XRP is currently trading at $1.52, up 1% over the past 24 hours, as it maintains stability above the $1.50 support level. The cryptocurrency's trading volume surged to approximately $1.51 billion, a 33.70% increase from the previous day. This elevated volume suggests growing participant activity, though it does not guarantee a clear directional move in the near term.

Key support for XRP is currently positioned between $1.47 and $1.50. Market participants are closely monitoring whether this zone will hold or if the price will retreat toward $1.20. Technical analyst Ali Charts observed that XRP is moving within a triangle consolidation pattern, approaching the apex, which typically precedes significant volatility. A four-hour candle close above $1.53 could trigger momentum toward $1.62.

On October 1, Ripple released 1 billion XRP tokens from escrow, valued at roughly $1.49 billion. The company also participated in a Seoul conference with four South Korean financial institutions, including Woori Bank and KBank, and announced the launch of XRP Asia. However, this event does not necessarily indicate direct XRP token acquisition or deployment by the participating banks.

Longer-term chart targets suggest potential for significant price movements. Analyst Moustache identified a multi-year descending broadening wedge formation, which could lead to a rally to $10. However, not all observers anticipate an immediate surge, with some noting that XRP’s RSI indicator remains below the 50 threshold. Derivatives market data shows XRP open interest on Binance has expanded to $516.6 million, though it remains well below the $1.3 billion peak observed in October 2025.