XRP Price Steady at $1.50 Amid Whale Withdrawals and Derivatives Activity

XRP price has held steady around $1.50, despite whale withdrawals and increasing derivatives activity, analysts say.

Data from CryptoQuant shows that XRP transfers above 1 million tokens have become the dominant category of exchange outflows on both Binance and Coinbase, with 60.8% of Binance's XRP outflow value on September 30 being attributed to such transfers.

According to analyst Ali Martinez, XRP's price is forming an ascending triangle on the monthly timeframe, with resistance positioned near $3.66. A monthly close above $3.66 would confirm the breakout, and the projected target from the pattern sits near $31.87.

The increase in whale withdrawals has also accompanied the price move, with withdrawals involving wallets holding more than 1 million XRP accounting for 48.7% of Coinbase's XRP outflows on September 30.